Terrebonne Economic Recovery Needs Assessment
IEDC with support from an EDA grant provided assistance to Terrebonne Parish, LA to assess their economic recovery needs from Hurricane Gustav as well as the recent Deepwater Horizon Oil Spill. The panel advisory team developed this July, 2010 report, which addressed the disaster’s impact on the local economy, identified the community’s capacity for economic recovery, and developed specific action steps for the recovery effort.
Terrebonne Parish has been identified as a community needing economic recovery assistance due to the severe impacts from four hurricanes: Katrina, Rita, Gustav, and Ike, as well as the recent impacts of the Deepwater Horizon BP Oil Spill. These impacts include significant physical damage to one or more business districts, as well as significant economic impact on several key industry sectors (oil and gas exploration and production and seafood fishing and processing).
Impacted businesses, economic development organizations, and chambers of commerce that support local businesses/industries are still navigating uncharted territory en route to long‐term recovery. Across the board, resources are stretched and long‐term planning is often eclipsed by the struggle to meet immediate organizational and service needs.