Two Years Later: Katrina's Economic Impact

  • The portion of the sales tax that comes from hotels and motels, especially for the months between February and May of 2007, representing the major visitor draws of Mardi Gras and Jazz Fest, have also rebounded to near pre-Katrina levels. Specifically, taxes from hotel and motel stays generated a total of $3.4 million in revenue for the city between February and May of 2007, representing 74.2 percent of the total revenues during that period in 2005. (Source: City of New Orleans, Finance Department)
  • According to the most recent estimates, the New Orleans region lost more than 4,000 businesses in the year after the disaster. By the fall of 2006, the city and the metro area region had reached 72 percent and 85 percent of its pre-Katrina employer base. (Source: Louisiana State University)
  • The region's employment base has recovered to approximately 83 percent of its pre-Katrina levels. In the New Orleans metro area today, approximately a half million people are employed. Before the storm blew through the city, more than 600,000 worked there. (Source: BLS)
  • Approximately 3,500 businesses have received grants from the state of Louisiana. The average grant size is $18,100 and given to a firm with fewer than 10 employees. (Source: Louisiana Department of Economic Development)
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