New Orleans Focuses on Economic Revitalization in Historically Black Neighborhoods
New Orleans is exploring avenues for economic growth in its historically Black communities, with a particular focus on entrepreneurship and addressing long-standing challenges exacerbated by events like Hurricane Katrina and climate change.
Greater New Orleans, Inc. (GNO) is supporting Black entrepreneurs through a dedicated program designed to connect them with resources and foster business progress. According to GNO representative Michael Hecht,”entrepreneurship over time is a great way to create wealth and also to create ecosystems of businesses.”
Broad Community Connections, an economic development organization serving the seven historically Black neighborhoods surrounding Broad Street, is working to strengthen the area’s economy. These neighborhoods are comprised of 60% Black residents, 36% white residents, and 7% Latino residents, according to Executive Director Dasjon Jordan.Broad Street experienced economic hardship following Hurricane Katrina, becoming a food desert for several years. While the area has since rebounded with approximately 400 businesses and a stronger economy, questions remain about equitable wealth distribution.Jordan noted, “But that doesn’t come without a question of how [have] income and wages and wealth increased for those who were most marginalized when Katrina hit and the generations after.”
A significant hurdle for business owners in the area is access to financing,with manny relying on personal funds to support their ventures. This is compounded by rising costs,particularly the increase in home insurance premiums,which rose an average of 16% in 2022 and 14% in 2023,as reported by NOLA.com, potentially jeopardizing the viability of small businesses.
Climate change also poses a threat to the economic progress of these neighborhoods. Research from Scientific American indicates that Black neighborhoods are disproportionately affected by flooding, and broad Street is no exception.frequent flooding during heavy rainfall is worsened by a failing water pump system.
Broad Community Connections advocates for climate-resilient infrastructure improvements in both public and private sectors. Jordan emphasized, “If the basic infrastructure isn’t resilient, than all of this economic revitalization really is pretending that climate [change] isn’t happening.”
