2014
On Oct. 1, 2014, the first issue of Biz New Orleans Magazine was released. The cover story was an interview with GNO, Inc., president and CEO Michael Hecht, in which he talked about the business of selling New Orleans to the world. That first issue also shared the story behind Dong Phuong Bakery, gave readers a peek into Tom Benson’s private office space, highlighted a promising young artistic startup and delved into hot topics in dining, tourism, sports, film, real estate, security and health care.
10 years and 120 magazines later, Biz New Orleans remains focused on two things: helping readers to better get to know the people behind all the varied industries of Southeast Louisiana, and taking a deeper look at the hottest issues in all those industries in a way that focuses on the work that’s being done and the people who are doing it.
We live in a city like no other, and as the only full-color monthly magazine covering business in Louisiana, it is our honor to cover it like no one else does.
Top Business Stories of the Year
Every year since our first full year in print, Biz New Orleans has counted down the Top 10 Business Stories of the Year in our December issue. The top story of the year for every year is as follows:
2015
UMC Opens
On Aug. 1, 2015, the $1.1 billion University Medical Center officially opened. The 2.3 million-square-foot medical complex includes 1.6 million square feet of world-class medical technology, architecture and even artwork. Located in the heart of the biomedical district of New Orleans, its 34 acres between Tulane Avenue and Canal Street are projected to serve as a catalyst for development in the neighborhood, bringing more than 28,000 square feet of retail space as well as health care workers, patients and visitors to support those businesses.
2016
MSY Ups Its International Game
After 34 years without a direct flight to Europe, in 2016 the Louis Armstrong New Orleans International Airport (MSY) announced that nonstop flights are on the horizon to two European and one Central American destination. Condor Airlines announced nonstop service to Frankfurt, Germany would begin in 2017 and Choice Aire announced nonstop flights to Honduras would start in Dec. 2016. The big get, however, was the announcement that British Airways would begin nonstop service to London Heathrow Airport four days a week on March 27, 2017. The wooing of the airline giant took place over four years, led by a partnership between the CVB, GNO, Inc., and local businessman Gregory Rusovich.
2017
NOLA Leads Nation for Healthcare Job Growth
New Orleans nabbed first place nationwide for healthcare job growth in 2017. In the past 10 years, jobs in this sector increased by 78%, and research by GNO, Inc., predicts that healthcare will continue to be the top sector for job growth in the region through at least 2026. In addition to the opening of UMC in 2015, the $1billion VA Medical Center opened in 2016. Ochsner Health also celebrated more than half a dozen openings of clinics or health centers around the region, including Gretna, Houma, Slidell, LaPlace and Denham Springs.
2018
Avondale Shipyard Purchase Finalized
On Oct. 3, Avondale Marine LLC, a newly formed joint venture between Virginia-based T.Parker Host and Illinois-based Hilco Redevelopment Partners, finalized the purchase of Avondale Shipyard from Huntington Ingalls Industries. The deal was praised as “one of the largest economic development announcements in Jefferson Parish history,” by then-parish president Mike Yenni.
Since before World War II until its closing in 2010, the 254-acre property served as one of the nation’s most significant shipbuilding assets and the largest private employer in Louisiana, boasting over 26,000 workers at its peak. Avondale Shipyard features 8,000 feet of deep-water riverfront access and connection to six Class I railroads. Following its closure, GNO, Inc. and JEDCO both worked on bringing the site back to life, which included JEDCO and the Jefferson Parish Council structuring a local incentive package. Full article
2019
MSY North Terminal Opens
Six years after plans were finalized — and after making an appearance on Biz New Orleans’ Top 10 Business Stories every year with news of its progress — on Wednesday, November 6, the New North Terminal of the Louis Armstrong New Orleans International Airport finally opened to the world. Measuring 972,000 square feet, with 35 gates and 40 food, beverage and retail locations, the new airport made national headlines.
In January 2016, the upcoming addition was touted as, “the most transformative project for New Orleans since the Superdome,” by then-New Orleans Mayor Mitch Landrieu, who added that “for over 40 years, people talked about developing an airport that was reflective of our city, yet for decades there was little action and minimal collaboration.”
Landrieu noted that the airport was projected to have a $1.7 billion economic impact from construction and $3.2 billion in expected annual economic impact on tourism.
2020
Pandemic Hits Tourism
Since the first case of COVID-19 was reported in Louisiana on March 9, New Orleans was hit hard and fast — quickly recognized as a “hot spot” for the disease. At one point in March, Louisiana claimed the fastest growth in new cases in the world and Orleans Parish experienced the highest number of deaths per capita of any county in the nation, while Gov. John Bel Edwards was warning that hospitals could be overwhelmed in a matter of days.
Every industry felt the impacts, but in a city that welcomes more than 18 million visitors a year, tourism’s abrupt halt hit hard. It’s estimated that because of the pandemic, the city was losing around $200 million of visitor spending each week. As just one example, occupancy of the city’s roughly 25,000 downtown hotel rooms was down more than 50% from 2019. In much of the spring and summer, occupancy in downtown hotels was in the single digits, while many of the city’s 1,400 restaurants —especially those reliant on bustling hotels — had been scraping by with revenue from takeout or other special programs.
2021
Three Big Tech Exits
Southeast Louisiana has long been fighting to diversify its economy, and a big part of that has been a focus on building up a strong entrepreneurism sector. In 2021, three New Orleans-based technology startups sold for large sums; included among them was the region’s first “unicorn,” a startup valued at over $1 billion.
The first sale took place January 26, when Turbosquid — an online marketplace for 3D digital models created by New Orleans natives Matt and Andy Wisdom in 2000 — sold to New York-based Shutterstock for $75 million.
In September, Levelset — a company created in 2012 by New Orleanian, lawyer and entrepreneur Scott Wolfe with the goal of revolutionizing how payments are made and received in the construction industry —announced that it was being purchased for roughly $500 million by California-based software company Procore.
Finally, in October, Lucid snagged the grand prize when it sold to Swedish company Cint for more than $1 billion in cash and stock. The deal made the company — founded in 2010 by Patrick Comer — the area’s first “unicorn.”
2022
Crime Takes Over
Prior to the pandemic in 2019, New Orleans’s murder rate hit a 50-year low of 121 for the year. As of Oct. 2, that number was up to 220. The number of shootings in the city at that time had reached 534 and armed robberies were up to 417 for the year.
Headlines proclaiming New Orleans the “Murder Capital of the United States” had spread around the country and even internationally. As of September, the number of homicides per 100,000 New Orleanians was 52, substantially higher than cities like Chicago (18) and New York City (3.5).
Frustrated and concerned with the rise in violence, citizens and businesses gathered to take action in July with the launch of NOLA Coalition, now up to more than 400 members — including local nonprofits, civic organizations and businesses. Separately, efforts began to recall Mayor LaToya Cantrell, who is being faulted for the city’s purported insufficient attempts to stem crime and support the New Orleans Police Department — whose numbers had fallen to under 1,000 officers, the lowest staffing level in decades.
2023
State Legislation Takes Aim at Insurance Crisis
In only two years, 2020 and 2021, Louisiana was hit by four hurricanes — two Category 4 hurricanes, one Category 3 and a Category 2. In the wake of a flood of claims, as of July 2023, about a dozen insurance companies had failed, and about another dozen stopped writing policies in the state. Those property owners who could not secure insurance were pushed to Louisiana Citizens Property Insurance Company — the state-run insurance company of last resort — which saw its number of policies almost triple to over 130,000.
In February, Louisiana Gov. John Bel Edwards called for a special legislative session to address the state’s property insurance crisis. The session resulted in $45 million for a newly created incentive fund aimed at luring insurance firms to Louisiana. Under the bill, qualified companies can be awarded grants between $2 million and $10 million. In return, those insurers must provide 100% matching funds for the grant.
In October, the state also set aside $30 million to begin offering the first group of grants of up to $10,000 per property to help owners repair or replace their roof with an upgraded “fortified” roof.
Biz New Orleans
Recognized For Excellence — Locally and Nationally
Biz New Orleans — including BizNewOrleans.com and our two daily newsletters — has taken home many awards in its 10 years.
On the national level, we have competed in the Alliance of Area Business Publishers’ (AABP) annual Editorial and Design Excellence Competition since we became eligible in 2016 and have taken home awards every year, competing against 57 regional and local business publications in the United States, Canada and Australia.
Since 2016, AABP has awarded us:
- 10 Gold Awards,
- 12 Silver Awards and
- 4 Bronze Awards for excellence.
On the local level, at the Press Club of New Orleans’ annual awards we have been recognized 64 times for excellence in reporting online and in the magazine including:
- 1st in Business Writing every year from 2016 to 2023;
- Swept the Business Writing category (1st, 2nd, 3rd) from 2016-2019;
- Honored in the category Best News Website 5 times, and for our online blogs 10 times.
BizTalks Podcast
On April 29, 2020, Biz New Orleans expanded into the podcast world with the launch of BizTalks, a weekly podcast that drops every Tuesday with new episodes sharing conversations with top professionals in our region spanning every industry.
Want to hear about hospitality from Alon Shaya, Ti and Lally Brennan and E.J. Lagasse? Talk inflation with Peter Ricchiuti? Tourism with Walt Leger III? Get behind the scenes of New Orleans Entrepreneur Week and French Quarter Fest? Discover the latest work being done to tackle workforce development shortages, the insurance crisis and climate change? It’s all on BizNewOrleans.com/biz-talks.
More than 200 episodes are available now at BizNewOrleans.com and wherever you get your podcasts. Some of BizTalks’ most popular episodes include:
- Episode 17: Could an Online Graduate Degree Program be a Good Fit for You? With A.J. Brooks of Tulane’s AB Freeman School of Business.
- Episode 23: Should You Be Testing Employees for Marijuana? With national drug testing expert Jared Rosenthal
- Episode 26: Audubon Institute Prioritizing Care of 15,000 Animals During Budget Crisis with Audubon CEO Ron Forman
- Episode 97: The Rise of Intralox with President and CEO Edel Banks
New Orleans 500
In 2021, Biz New Orleans Magazine published the inaugural edition of the New Orleans 500, an annual publication that profiles more than 500 business leaders who are driving the Greater New Orleans economy today and making decisions that will shape the region’s future. The fourth edition of the New Orleans 500 will be released November 2024. For more information, visit BizNewOrleans.com/New-Orleans-500.
