British Airways to connect London & New Orleans with nonstop flights
This morning, British Airways announced it was initiating a direct flight between New Orleans and London. This is truly a “game changer” for our region and a confirmation about the outlook for the Gulf South economy.
The effort to bring British Airways back was years long and required presenting a strong regional business support throughout Louisiana and over to Mobile.
Michael Hecht, CEO of GNO Inc. stated:
“Mobile (Ala.) was a major support for us because we talked about starting up a bus service for executives from Mobile into New Orleans, so they can fly direct into Europe instead of going into Chicago.”
Beware the Broad Brush
There has been much debate in the media this week about Donald Trump’s taxes and the need for Congress to overhaul America’s tax system. In yesterday’s editorial debate of the USA Today, the editorial board makes its point for real estate tax policy reform and the overly generous tax benefits received by commercial real estate property owners.
The opposing viewpoint, authored by Real Estate Roundtable President and CEO, Jeff DeBoer, emphasizes that all business investments, including real estate, be allowed to recover its capital investment cost through depreciation and amortization. He goes on to point out that it is irresponsible to specifically target the tax structure of the real estate industry, which accounts for a large percentage of America’s jobs and economic activity.
The current value of the US commercial real estate investment is approximately $6.0 trillion, leveraged conservatively at approximately 55% (over $2.7 trillion of equity; $3.3 trillion of debt). This investment is responsible for billions of dollars in economic activity, supports approximately 9 million American jobs, and contributes 13% of the nation’s gross domestic product. Real estate activity accounts for nearly 25% of the taxes collected at all levels of government, including income, property and sales taxes. Property taxes alone constitute 40% of the state and local tax base. Taxes derived from real estate ownership and transfer represent the largest source, which in some cases, is approximately 70% of local tax revenues, helping to pay for schools, roads, law enforcement and other essential public services.
Further, the US real estate industry is an inherently domestic product that cannot be offshored through inversions or other tax schemes. If Congress does take on Tax Reform in 2017, it should be noted that much of our country’s real estate investment is made locally by individuals seeking solid, long-term returns with a desire to improve their neighborhoods and serve the communities in which they live.
Let’s not use Mr. Trump’s personal tax situation as a means to hurt our local communities and our nation’s economy by using a broad brush approach!
Eye on the Market Highlights – August 8, 2012
Stirling Properties’ Eye on the Market research alert is emailed to our mailing list and features all the latest news and market reports about the Gulf South. We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place. Some highlights from our August 8, 2012 Eye on the Market include:
Occupy Lafayette – Stirling’s Ryan Pecot discusses Lafayette’s occupancy rates – The Independent
Louisiana Ranked Among Top 10 in U.S. across numerous categories – Business Facilities
Louisiana earns Honorable Mention for “State of the Year” – Southern Business & Development
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Eye on the Market Highlights – July 23, 2012
Stirling Properties’ Eye on the Market research alert is emailed to our mailing list and features all the latest news and market reports about the Gulf South. We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place. Some highlights from our July 23, 2012 Eye on the Market include:
The Fresh Market to Open St. Charles Avenue Store in New Orleans on July 25th
Louisiana Ranked Among Top 5 States for Best Business Climate in the U.S. – Business Facilities
New Orleans Tops Fastest-Growing Cities List – BusinessReport
Lafayette Among Fastest Growing Cities Forecast – The Independent
Louisiana, Southeastern States Lead Job-Training Efforts – BusinessReport
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Eye on the Market Highlights – June 2012
Stirling Properties’ Eye on the Market research alert is emailed monthly to our mailing list and features all the latest news and market reports about the Gulf South. We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place. Some highlights from our June 2012 Eye on the Market include:
Louisiana up 14 spots in 2012 Best States for Business – Chief Executive
Louisiana in Top 10 for State Economic Momentum– NOLA.com
Louisiana earns ‘A’ for small-business friendliness – Kauffman Foundation
Lafayette #1 among “Best Mid-Size Cities for a Job”– Forbes
A Tech Buildup on the Bayou – The Wall Street Journal
New Orleans is Beginning to Attract National Retailers– NOLA.com
‘Tide Has Turned’ for South La. Commercial Market – Business Report
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Eye on the Market Highlights – April 2012
Stirling Properties’ Eye on the Market research alert is emailed monthly to our mailing list and features all the latest news and market reports about the Gulf South. We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place. Some highlights from our April 2012 Eye on the Market include:
- 50 Fastest Growing U.S. Metros: New Orleans & Gulfport-Biloxi
SunHerald - Baton Rouge among “Top 25 Hardest Working Towns in America”
Parade - How Louisiana is Luring Startups
Time - La. Nonfarm Employment Sets All-Time Record
La. Workforce Commission - SE Tylose Announces Major Investment in Plaquemine
$120 million investment, 30 new direct jobs - Oceaneering Announces Expansion in Morgan City
$5 million capital investment, 200 new direct & 1,700 retained jobs
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