Special Thanks to our Biotech II Event Sponsors

1. Special Thanks to our Biotech II Event Sponsors

2. Mr. Kurt WeiglePresident & CEODowntown Development District

3. Honorable Karen Carter PetersonLouisiana State Senator District 5

4. Mr. James A. RichardsonJohn Rhea Alumni Professor of EconomicsLouisiana State University

5. The New Orleans Economy and the Proposed BioDistrictPreliminary EstimatesDr. Jim Richardson*John Rhea Alumni Professor of EconomicsLouisiana State University Dr. Richardson has been assisted by Roy Heidelberg, a doctoral student at The Ohio State University, and GCR and Associates *Dr. Richardson is solely responsible for the findings and analysis.

6. THE Economy of New Orleans: Significant Challenges 93,000 jobs lost 57,000 housing units out of service Damaged infrastructure Diminished public services Minimal private investment

7. THE Response of New Orleans : Major Efforts Major Investments • VA/LSU Medical District • Federal City • New Orleans Bio-Innovation Center • FEMA Dollars for public schools • Port of New Orleans • New Orleans Cancer Research Center • Valero Refinery • World War II Museum, Hyatt Hotel, Louis Armstrong Airport • Major prison complex, Twin Span Bridge, State Highway Projects, levee projects Ongoing Activities • Blade Dynamics—windmill blade manufacturing • Transportation Consultants at the Port of New Orleans • Folgers Coffee expanding sites in New Orleans and St. Tammany • Textron Marine, a new contract from the U.S. Army • Second line Stages Film Studio • Rooms to Go in St. Tammany • Edison Chouest building campus in Mandeville for operating ROVs

8. THE Future of New Orleans: What we have and what we need Existing Industries Tourism • Convention business coming back modestly, but still well below 2004 peak • A very special city with over 8 million visitors • Leisure and hospitality still down almost 20,000 jobs • New cruise ships Port • Business back, but still competing with aggressive ports in Texas and Alabama • Capacity to double its container/breakbulk business • Extra ton of cargo adds about 1100 jobs in the state Energy • Carbon sequestration • Deep water drilling • “Green” industries Manufacturing Facilities • Northrup Grumman—closing down but work is being done to offset some of this decline • Refineries Importance of New Industries and New Approaches Strength of New Orleans is its downtown district • Medical District becomes the central element in being a new industry and being in the downtown district • None of this dismisses other parts of the city or the metropolitan area---every inch of the city can feed off the downtown development and progress

11. Medical Centers Are Economic Engines Estimated Economic Significance of Medical Centers in Selected Cities with Major Medical Research Programs

12. Health Care is already a major employer in New Orleans, but it is a support industry more than an economic driver Employment and Average Annual Pay by Industry in the New Orleans Metropolitan Area (2009)

13. Construction Impacts • The BioDistrict will witness especially significant construction impacts within the first 3 – 4 years as the VA and UMC hospitals are built • Construction activity will generate 7,600 jobs per year within the first 3 years • There will be substantially less construction activity in years 5–20 as ancillary facilities and uses are constructed • In years 6 through 20, on-going construction activity will continue to generate 400–550 new jobs per year Construction Activities of VA Hospital, University Medical Center, and Other Projected Investments in BioDistrict, 2011 through 2030 (all dollars in millions)

14. Economic Impact of BioDistrict (on an annual basis, 2010 dollars) Aggregation of Personal Earnings, State Tax Collections, and Local Tax Collections (millions of 2010 dollars) Enduring Economic Impacts • These employment projections are fundamentally conservative, as the commercialization of medical technologies and other advances could yield even greater employment impacts • Over 20 years, the District will generate an additional $595 million in local tax collections and $700 million in state tax collections • Over 20 years, the New Orleans region will experience $9.6 billion in personal earnings as a result of major investments in the BioDistrict • By year 5, planned investments in the District will create or save approximately 5,500 direct jobs and 9,700 total jobs in the metro area • By year 10, planned investments will create or save approximately 7,600 direct jobs and 13,400 total jobs in the metro area • By year 20, planned investments will create or save approximately 9,800 direct jobs and 17,200 total jobs in the metro area

15. Concluding Remarks Employment Projections are conservative estimates of impact Most compelling part are the actual case study evaluations of communities such as Houston, Birmingham, Cleveland, Memphis, Chicago, and LaJolla Research activity and accompanying private investment have resulted in employment and economic impacts that exceed our estimates. The investment in biosciences and research have paid off very handsomely for the communities. But it has been the result of long-term and sustained commitments.

16. The New Orleans Economy and the Proposed BioDistrictPreliminary EstimatesDr. Jim Richardson*John Rhea Alumni Professor of EconomicsLouisiana State University Dr. Richardson has been assisted by Roy Heidelberg, a doctoral student at The Ohio State University, and GCR and Associates *Dr. Richardson is solely responsible for the findings and analysis.

17. BioDistrict New Orleans: Opportunities

18. BioDistrict New Orleans: Community JOBS COMMUNITY ENGAGEMENT EDUCATION ECONOMIC DEVELOPMENT JOBS AND TRAINING COMMUNITY BUILDING CIVIC LEADERSHIP TRAFFIC / PARKING / WALKING / TRANSIT HOUSING + NEIGHBORHOODS COMMUNITY SERVING FACILITIES PARKS + RECREATION CHARACTER & IDENTITY

19. Thank You! James P. McNamara - President & CEO Bonita Robertson - Special Counsel Jaime Guillory - Comptroller Arthur Simons - Special Projects Ishaneka Williams – Social Media For More Information: www.bionola.org