The Gulf Coast Reporters' League Business Quarterly
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Business Quarterly, January 2016 – 1 Business Quarterly, January 2016 – 2 Contents The economy Marine science Much of the world Maritime research in thinks of the region as a the Gulf of Mexico place to play, but the has always been given pillars of the economy short shrift, but the are far more diverse BP oil spill has made than that. 6-19 it a hot spot. 44-49 • Occupations, 15 • Research units, 47 • State of mind, 16 • The alien world, 49 • The radical, 18 Downtowns Robotics Gulf Coast cities are IHMC was once seeing a rebirth of urban part of a university, cores, a change from the but in the 10 years past. 20-36 since it became inde- • Mobile, 22 pendent, it’s become • Gulfport, 27 known on the interna- • Fort Walton, 29 tional stage. 50-53 • Pensacola, 31 • Rural towns, 33 Real estate Politics New Urbanists had a The infusion of $1.6 grand vision for South billion in BP money Mississippi in the wake could forever trans- of Hurricane Katrina, form the economic but today lead planner landscape of North- Andres Duany says the west Florida. 54-60 dream was too big. 36-42 • The board, 59 • Katrina cottages, 40 Quarterly reviews Entrepreneurs • Southeast Louisiana, 66 The Makers Move- • South Mississippi, 68 ment is spreading in • South Alabama, 70 the region as people • Northwest Florida, 72 say goodbye to unsat- By the numbers isfying high-stress jobs • Metropolitan area populations, 43 to do what they enjoy • Economic area prosperity, 61 • Metropolitan area prosperity, 61 doing. 62-65 Business Quarterly, January 2016 – 3 From the editor Putting experience to work Editor David Tortorano hanges in newsrooms nation- among their hon- wide have forced a lot of ors a Pulitzer for Writers/editors highly experienced journalists public service Connie Baggett C out of the news business. And the along with other Tim Boone Robert Buchanan Gulf Coast region is no exception. national, regional, Charlotte Crane With all those professionals available, state and local Duwayne Escobedo it made sense to pull them together in journalism honors. Matt Irvin a cooperative venture to create a Many of them Tom McLaughlin product this region has needed for a have been business David Tortorano Lisa Monti very long time. reporters, and all of them have cov- Jane Nicholes Welcome to the inaugural issue of ered topics that run the gamut. Rhoda Pickett the Gulf Coast Reporters’ League They’ve chased hurricanes, covered Melissa Scallan Business Quarterly . trials, watched sports events and Martha Simmons Cindy West This is like no other publication questioned politicians. And now all you’ll see, either print or digital. We that experience is going into this Photographers cover a region nobody else is cover- brand new business publication. Bruce Graner ing in a single publication: the metro- What we’re most proud of is that in Michelle R. Thomas politan areas along the Interstate 10 an age where anyone with a computer corridor between Southeast Louisiana and Internet access can be a pub- Graphics and Northwest Florida. lisher, this team is old school and Thom Dudgeon The area has ties that run deep, so- abides by the principals of traditional Rudy Nowak cially and economically. The 4.4 mil- journalism. We look for the stories Ron Stallcup lion people who live here care about nobody else is doing. We may or may what happens in their neighbor’s back not get it first, but we’ll get it right. Administration yard. With a gross product of $223 I’ve had the honor of working with Pamela Baker Judith Rojeski billion, it’s a region with a diverse every one of the members of this Gloria Tortorano economy that deserves a publication team, and I understand their passion focused on its commercial activities. for the job and pride in their work. This magazine is available as Every quarter we’ll bring you sto- That’s why they agreed to be part of a free PDF download. ries with a region-wide perspective. If this venture. The professionals who Printed versions are it’s about marine science research, we have come aboard jumped at the available at Lulu.com, a print on demand service tell you about the entire region, not chance to participate in an untried based in Raleigh, N.C. just one slice. If it’s about Airbus in venture because of their can-do atti- Mobile, we’ll make sure we paint a tude and belief that the product is All rights reserved picture that will place it in the context needed. Since many of us have had of the region’s broad aviation sector. full, satisfying careers as members of Copyright © 2016 by Tortorano Our nearly two dozen contributing the Fourth Estate, you can consider Commissioned Publications/ reporters, editors, photographers, this our Third Act. Gulf Coast Reporters’ League graphics artists, page designers, proof I hope you enjoy this first issue, and Cover photo by Michelle R. readers and researchers have experi- that you make the Gulf Coast Report- Thomas of Airbus jetliner ence ranging from a low of 20 years ers’ League Business Quarterly part assembly in Mobile, Ala.; cover designed by Thom Dudgeon. to a high in excess of 45. They count of your regular reading routine. □ Business Quarterly, January 2016 – 4 Business Quarterly, January 2016 – 5 The economy Business Quarterly, January 2016 – 6 The economy - overview the “Third Coast” and No doubt this region is a is connected by much more than I-10. draw for tourists, but the “What connects us, The region diversity of activities that besides the overall Southern culture,” Hecht said, “are sectors of indus- support the economy is try, oil and gas, energy, tourism, aerospace, maritime and trade across the entire corridor. We have a col- surprisingly large lective future together. “Consider that the East Coast and the West Coast rom its world-class hospitality to gaming are getting more crowded and more expensive,” and entertainment venues to white-sand Hecht said. beaches, the central Gulf Coast region “Now the Third Coast, starting at Houston, is start- could easily be mistaken for little more ing to emerge, for three main reasons. First, the busi- Fthan a waterfront playground. ness conditions are better, with lower costs and But while the four-state region sprawled along In- friendlier attitudes toward business. Second, our terstate 10 does enjoy significant tourism dollars, its natural orientation and proximity to Central and economic pillars are also built of South America – that’s going to be important when sterner stuff. the new Panama Canal opens next year. And third: Advanced manufacturing, Energy – oil and gas.” aeronautics, chemical process- However, while the region is certainly connected, it ing, oil and gas, military bases is not necessarily homogenous. And that may be to and national defense, high tech- its advantage. nology, health systems – these are just a few of the foundations River boom and Katrina baptism of the often interrelated econo- Martha Simmons “There is about $31 billion in new construction oc- mies of the region stretching curring right now along the river from Baton Rouge from Southeast Louisiana through the Mississippi to New Orleans. It’s largely chemical firms,” said Gulf Coast, South Alabama and Northwest Florida. Loren Scott, an economist and professor emeritus “The greatest misconception about the coastal with Louisiana State University. economy is that we’re primarily a tourism economy,” The cheapest and best way to ship the bulk chemi- said Ashley Edwards, who in December became cals produced by the plants is by barge or oceango- president of the Mississippi Gulf Coast Business ing ships, Scott said, noting that these large vessels Council. He previously served as chief executive of- can traverse the Mississippi all the way up to Baton ficer of Hancock County (Miss.) Port Air Space, the Rouge. former Port and Harbor Commission. New Orleans’ worldwide reputation as a tourism “Things are happening along the northern Gulf destination often overshadows the rest of the region’s Coast that would be the envy of any other region in industries, Hecht said. the United States. We’re seeing so many businesses “What distinguishes us is the city of New Orleans, both nationally and internationally taking a second which is one of the unique cities of the world, and look at the Interstate 10 Corridor because of the ad- many times has a reputation far greater than its size,” vantages we’re able to offer here.” he said, noting that foreign business people often know where New Orleans is, but know nothing of the Emerging ‘Third Coast’ state of Louisiana. Michael Hecht, president and CEO of Greater New But the New Orleans area’s economy is under- Orleans, Inc., contends that the region is emerging as pinned by a lot more than food, fun and music. Business Quarterly, January 2016 – 7 The economy - overview “We have three foundational industries: Energy, American history. The way you honor those who suf- trade and advanced manufacturing,” Hecht said. fered is to build something back better.” Greater New Orleans’ advanced manufacturing is That appears to be happening. Tourism has re- focused primarily on the design, manufacturing, and bounded to pre-Katrina levels. And for those founda- assembly of military ground transportation vehicles, tional and diversified industries, the New Orleans civilian and military aircraft, space vehicles, and na- region, once known for exporting its best and bright- val and commercial ships and boats. est, now leads the nation in attracting college gradu- Southeast Louisiana also boasts three diversified ates and workers in their prime years, ages 35 to 49. industries, Hecht said: “Now people are not only staying in New Orleans,” Hecht said, “they’re choosing to locate here.” • Digital media: Currently the fastest- Meanwhile, Southeast Louisiana economic devel- growing software market in America opers are not content to bask in their post-Katrina with companies such as IBM and GE successes or go their own way.