Biz New Orleans July 2022 by Renaissance Publishing

JEFFERSEON ISSU

HAVE YOU SEEN GRETNA LATELY?

IF NOT, YOU’RE IN FOR A SURPRISE. P. 40

11 LEADERS SOLVING PROBLEMS, BREAKING BARRIERS AND DRIVING GROWTH

NEW& NOTABLES JULY 2022

(L-R) Dr. John H. Stewart IV, Director of LSU Health New Orleans/LCMC Health Cancer Center; Davon Barbour, President & CEO of Downtown Development District (DDD); Camille Sumner, Executive Director of Young Leadership Council (YLC)

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JULY EVERY ISSUE

PERSPECTIVES

VOLUME 08 ISSUE 10

FROM THE LENS 54 GREAT WORKSPACES The newly remodeled JEDCO Finance Center provides a modern setting for collaboration and growth.

04 EDITOR’S NOTE 06 PUBLISHER’S NOTE 08 ON THE WEB 10 WORD ON THE STREET

64 NEW ORLEANS 500 Justin Hartenstein, founder of Oracle Lighting

LAW A majority of Louisiana voters support legalizing marijuana, yet legislation to do so can’t seem to pass — and neither can bills to enact harsher penalties.

IN THE BIZ 14 DINING The Vaucresson culinary legacy is a lesson in the value of tenacity. 16 TOURISM Gas prices are no bother when a staycation is possible.

24 BANKING+FINANCE What are some ways investors should change their strategies with rising interest rates?

18 SPORTS Denver Broncos’ $4.65 billion sale will benefit entire league

26 HEALTHCARE A new Northshore healthcare initiative is bringing former competitors together for the greater good.

20 ENTREPRENEUR The Renegade Artists Collection is creating its own path to success.

32 GUEST How to protect your investment portfolio from rising interest rates

WHY DIDN’T I THINK OF THAT?

This local entrepreneur has turned a hobby building electric bikes into a passion to teach everyone the benefits of giving up gas.

Hidden Gem Coming To Light

When the tolls for the Crescent City Connection stopped in 2013, Gretna flourished — and things have only gotten better since.

New & Notables

11 Leaders solving problems, breaking barriers and driving growth

EDITOR’S NOTE

Publisher Todd Matherne EDITORIAL Managing Editor Kimberley Singletary Art Director Sarah George Digital Media Editor Kelly Massicot Associate News Editor Rich Collins

All Charged Up

Perspective Writer Drew Hawkins Contributors Derek Fossier, Ashley McLellan, Chris Price, Jennifer Gibson Schecter, Melanie Warner Spencer, Poppy Tooker, Keith Twitchell ADVERTISING Sales Manager Caitlin Sistrunk (504) 830-7252 Caitlin@BizNewOrleans.com Senior Account Executive Jessica Jaycox (504) 830-7255 JessicaJ@BizNewOrleans.com Senior Account Executive Meghan Schmitt (504) 830-7246 Meghan@BizNewOrleans.com Sponsored Content Coordinator/Copywriter Eliza Fillo

hen we go looking for the year’s class of New & Notables, we’re looking for people who have done something or taken on a new position in the past year that is focused on moving our region forward. While doing so, we aim to cover a wide array of industries in the hopes of introducing our readers to people they may not know but should. I suppose I shouldn’t play favorites, but honestly, this issue ties with our women’s issue every May as my favorite every year. I think it’s because it focuses so much on hope and making big plans. When you’re struggling — as our area is in many ways — it’s easy to get frustrated, to lose hope. We tend to forget than many of our problems are not unique to us, and the ones that are only offer an opportunity to break new ground. The people we honor this year are all filled with this kind of optimism and having the chance to talk to some of them couldn’t help but lift my spirits. Maybe it’s that about half are very recent transplants to this region — armed with an outsider’s fresh perspective and a history of making things happen. But then there’s also the locals, the ones who hold such a deep appreciation for our inherent strengths and see the potential that peeks through the obstacles.

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In the future that these 11 honorees see for us there is greater wealth and health care equity, smoother streets, booming innovative industries and room for everyone to make their mark in a region that has long celebrated doing things just a bit different from everyone else. Please join me in congratulating this year’s class of dreamers and doers: Biz New Orleans magazine’s 2022 New & Notables.

RENAISSANCE PUBLISHING MARKETING Coordinator Abbie Whatley PRODUCTION Manager Rosa Balaguer Arostegui Senior Designer Meghan Rooney CIRCULATION Subscriptions Jessica Armand Distribution John Holzer ADMINISTRATION Office Manager Mallary Wolfe VP of Sales and Marketing Kate Henry Chief Executive Officer Todd Matherne For subscriptions, call (504) 830-7231

2022 Gold Best Feature Gold Best Recurring Feature Silver Best Feature Layout 2021 Gold Magazine Design Gold Best Explanatory Journalism Gold Feature Design Silver Best Feature Bronze Best Use of Multimedia 2020 Silver Best Recurring Feature 2019 Gold Best Recurring Feature Gold Best Explanatory Journalism 2018 Gold Most Improved Publication Silver Best Recurring Feature 2017 Silver Best Recurring Feature Bronze Best Daily Email 2016 Bronze Best Feature Layout

110 VETERANS BLVD., SUITE 123 • METAIRIE, LA 70005 • (504) 828-1380

KIMBERLEY SINGLETARY Managing Editor Kimberley@BizNewOrleans.com

Biz New Orleans is published monthly by Renaissance Publishing, LLC, 110 Veterans Memorial Blvd., Suite 123, Metairie, LA 70005; (504) 828-1380. Subscription rate: three year $49.95, no foreign subscriptions. Postage paid at Metairie, LA, and additional mailing entry offices. POSTMASTER: Send address changes to Biz New Orleans, 110 Veterans Memorial Blvd., Suite 123, Metairie, LA 70005. Copyright 2022 Biz New Orleans. No part of this publication may be reproduced without the consent of the publisher. The trademark Biz New Orleans is registered. Biz New Orleans is not responsible for unsolicited manuscripts, photos and artwork, even if accompanied by a self-addressed stamped envelope. The opinions expressed in Biz New Orleans are those of the authors and do not necessarily reflect the views of the magazine or owner.

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PUBLISHER’S NOTE

SALES TEAM

It’s Winning Season

iz New Orleans is one of seven magazines owned by Renaissance Publishing. Biz’s sister titles include Louisiana Life, Acadiana Profile, New Orleans Magazine, New Orleans Home and New Orleans Bride, as well as St. Charles Avenue. I am proud to say that all these teams have lately been continuing to cash in when it comes to national awards. Our media properties are each a member of their appropriate industry associations, and in the past two months these organizations have held their annual meetings and award banquets. Louisiana Life and Acadiana Profile magazines are part of the International and Regional Magazine Association (IRMA); New Orleans Magazine is part of the City and Regional Magazine Association (CRMA); and Biz New Orleans is part of the Alliance of Area Business Publishers (AABP). These meetings were held this year in Ottawa, Canada; St. Louis, Mo.; and Columbus, Ohio; respectively. All these organizations use independent judges from around the country for their editorial and design awards. For both the CRMA and AABP, judging is done by the prestigious School of Journalism at the University of Missouri. These organizations boast members from across the United States, Canada, Bermuda, Australia and Puerto Rico. At the IRMA conference in May, Louisiana Life won 10 national awards for writing, editing and design, including a gold award for “Best Cover” for the November/December 2021 alligator hunting cover story. Also at IRMA, Acadiana Profile took home nine awards, with the most prestigious honor being named “Magazine of the Year” for the second time in

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Caitlin Sistrunk

four years. In 2019, both Acadiana Profile and Louisiana Life were named magazines of the year. What an incredible honor for Managing Editor Melanie Warner Spencer, Art Director Sarah George and the entire magazine team. Also in May, New Orleans Magazine won multiple design awards, with our Creative Director Tiffani Amedeo being named “Designer of the Year.” Tiffani, Editor Ashley McLellan and Associate Publisher Kate Henry continue to transform New Orleans Magazine into one of the top city magazines in the country. And last month at AABP, for the sixth year in a row Biz New Orleans won multiple national awards. This year, Managing Editor Kim Singletary, Art Director Sarah George and team won gold awards for “Best Feature” for the March 2021 article, “Best Year Ever,” as well as “Best Recurring Feature” for our monthly “Why Didn’t I Think of That?” feature and a silver award for feature layout for last year’s “Executives of the Year” piece. In addition to the monthly magazine, the Biz family of products includes daily business emails, the award-winning website BizNewOrleans.com, and the annual New Orleans 500. Biz New Orleans continues to be the voice of local business that your business can rely on. Great work RenPub team!

Sales Manager (504) 830-7252 Caitlin@BizNewOrleans.com

Jessica Jaycox Senior Account Executive (504) 830-7255 JessicaJ@BizNewOrleans.com

Meghan Schmitt

TODD MATHERNE CEO and Publisher Renaissance Publishing

Senior Account Executive (504) 830-7246 Meghan@BizNewOrleans.com

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ON THE WEB BIZNEWORLEANS.COM

THE BUSINESS COMMUNITY IS TALKING ON BIZNEWORLEANS.COM Catch all the latest news, plus original reporting, people on the move, videos, weekly podcast and blogs, digital editions of the magazines and daily Morning Biz and afternoon newsletters. If it’s important to business in southeast Louisiana, it’s at BizNewOrleans.com.

BIZ TALKS PODCAST

“After the infrastructure bill passed, we knew the federal government was going to be putting a lot of money into the economy all along the Gulf Coast, so why don’t we have something that can get companies together to hear about those opportunities?”

“Don’t eat the cheese” was one of former Saints head coach Sean Payton’s go-to expressions (borrowed from his mentor Bill Parcells). It meant “don’t buy into the hype.” His former quarterback might beg to differ. NFL legend and Saint for life Drew Brees is one of the franchise partners bringing the Smalls Sliders cheeseburger drive-thru concept to Metairie. The new quick service restaurant chain is “hyper focused” on madeto-order cheeseburgers — and only cheeseburgers. The first Smalls Sliders opened in September 2019 in Baton Rouge. A second Baton Rouge location followed and another in Thibodaux. Current locations planned for Greater New Orleans include Metairie, Marrero and Slidell. Brees will be the franchisee of the Metairie store (location to be announced).

EPISODE 106

Curtis Doucette Unveils the New BonVi Apartments in the Bywater

Real estate developer and CEO of Iris Development, Curtis Doucette celebrated the grand opening of the $20 million BonVi apartment complex on June 16. The mixed-use project was developed in partnership with Green Coast Enterprises.

EPISODE 105

Homebuilding on the Northshore

Al Petrie, senior partner at Al Petrie Advisors, speaking about his decision to host the first Southern Industrial Conference on May 31 and June 1 at the Ritz-Carlton Hotel. Companies gathered to network while gaining knowledge about trends and developments to help them grow their business.

In the wake of the amended homebuilding moratorium, what is the next step in addressing the Northshore’s growth challenges? Jules Guidry, CEO of Highland Homes and a former leader of the Northshore Home Builders Association, talks about the new committee he’s a part of that’s dedicated to finding “Simple Solutions.”

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WORD ON THE STREET NEW ORLEANS 500 SURVEY

NEWS FROM THE TOP Each month, we ask the top business professionals featured in the New Orleans 500 to weigh in on issues impacting the New Orleans business community. Have an idea for a survey question for the New Orleans 500? Email rich@bizneworleans.com.

STORM READY In the Path of Wind and Rain, N.O. Businesses Rely on the Cloud

94% Yes

Do you have a formal hurricane plan in place for your business?

BY RICH COLLINS

4% No

arch 2020 was the beginning of the great remote work experiment for businesses worldwide. The pandemic forced many organizations in New Orleans and elsewhere to learn how to get the job done even though their employees weren’t able to gather at a workplace every day. Notably, the business practices that many New Orleans companies and organizations have developed over the course of that global health crisis have proved to be useful during hurricane season, a time when life as usual can be disrupted at any moment by the power outages and damage to infrastructure that accompany severe weather events. Virtually all area executives who responded to this month’s New Orleans 500 email survey said they have a formal hurricane plan in place for their business, and for many the key to the plan is to make sure that all employees are able to work remotely and all important data is backed up either on the cloud or on a remote server somewhere out of the storm’s path.

‘BATTEN THE HATCHES’

Of course, some businesses’ hurricane prep is more complicated than grabbing laptops and hitting the road. Builders, for example, need to

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secure any active job sites and document them needed to support business and facility essential before any damage occurs. functions, and operational coordination with “After making sure we know where each staff external partners to include insurance brokers/ member evacuates to, we batten down the job carriers and pre-qualified disaster contract sites and office, along with heavy photo docuproviders,” said Michael Sawaya, president of the mentation of pre-storm conditions,” said Ryan New Orleans Ernest N. Morial Convention Center Mayer, owner of Mayer Building Company. “We Similarly, local bankers and nonprofit leaders let project owners know what we are doing have to help their clients prepare for potential with board up and photos and we hope for the disruption. best. After the storm … we try to be “boots on “Disaster recovery is a very important part of the ground” for all project owners by producing our business,” said John Zollinger, executive vice written reports, photos and emails to owners and president and director of commercial banking insurance companies. We maintain a positive attiat Home Bank. “We take it very seriously. We tude, we use social media and emails to reach out know that the community is counting on us to and check on people first and then projects.” be available and open as soon as we can after a Executives in the tourism industry, meandisaster. Access to your money is essential in the while, have the extra responsibilities that days following a disaster as one of four essential come with hosting visitors during the extreme items, including fuel, water and food.” weather season. Michael Williamson, president of United Way “It is important to take the time to verify of Southeast Louisiana, sums up his responsicontact information and vendor agreements bilities like this: “As an organization focused in advance to allow clear communication and on immediate response, relief and long-term expectations on all sides in the recovery, we begin offering aid event of a major weather incident,” through pop-up relief events said Jim Cook, general manager of including food, supplies and Sheraton New Orleans. financial/legal assistance to For more thoughts from local business leaders “[We plan] schedules for the impacted communities.” T on this topic, visit emergency management response cycle, schedules for organizational, BizNewOrleans.com/500 and scroll down divisional and department specific to the latest New essential functions, equipment Orleans 500 Survey.

BI Z N E WO RL E AN S.COM

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PH OTO C O U R T E SY H OT E L S A I N T V I N C E N T BY M AT T H A R R I N GTO N

IN THE BIZ

DINING

SPORTS

ENTREPRENEUR

The Vaucresson culinary legacy is a lesson in the value of tenacity.

Denver Broncos’ $4.65 billion sale will benefit entire league

The Renegade Artists Collection is creating its own path to success.

TOURISM Gas prices are no bother when a staycation is possible.

IN THE BIZ DINING

POPPY TOOKER has spent her life devoted to the cultural essence that food brings to Louisiana, a topic she explores weekly on her NPR-affiliated radio show, Louisiana Eats! From farmers markets to the homes and restaurants where our culinary traditions are revered and renewed, Poppy lends the voice of an insider to interested readers everywhere.

Seventh Ward Homecoming

Development and New Orleans Redevelopment Authority. Our covenant’s commitment to affordable housing in perpetuity gave us access to funding from the City of New Orleans as well,” Vance said. “We hope more small nonprofits can use our model to help other small commercial property owners put their building back into commerce without going to a bank, something that’s hard without traditional assets.” This spring, National Urban League President Marc Morial used Vaucresson’s as a backdrop to announce the Black Restaurant Accelerator Program, an economic incubator corner on North Roman Street and St. Bernard combining grant dollars with entrepreneurial Avenue. Sonny was determined to build his own assistance funded with $10 million from Pepsi sausage-processing facility there despite having Co. Vaucresson’s was one of the first restauto overcome the adverse racial politics rampant rants in the country awarded the funding. then in Louisiana’s Department of Agriculture. Today, Vaucresson’s Creole Café is a The USDA-approved processing facility bustling community hub “where you can come finally opened in 1983 with the capacity to in, see some of your people, meet new ones service lucrative grocery store accounts like and immerse yourself in the neighborhood’s Schwegmann’s. With the ink barely dry on history,” Vance smiled. Guests can dine in a major contract to supply Orleans Parish or take out poor-boys, gumbo, classic New Schools, Sonny died suddenly of a heart attack Orleans plate lunches and fresh sausage prodin 1998. Vance stepped into his father’s shoes, ucts as well. successfully growing the family business until While Vance works to expand food service Hurricane Katrina’s flood waters almost ended and grocery business, a new product line is their legacy. coming this fall, including Vaucresson’s Creole Looking back over the 17 years it took to mustard, mango mustard, Louisiana pecan make Vaucresson’s Creole Café a reality, Vance mustard and more. Julie Vaucresson, the credits his mother’s spirit. company’s culinary ambassador, utilizes her “I don’t know what stop or quit means,” he New Iberia country Creole upbringing into reflected. “When doctors told her three times what she calls “Creole Made Easy.” There is a her cancer was terminal, mom refused to cookbook in progress with recipes combining believe it and lived.” “our sausage, with ingredients Built in 1925 as a typical corner already in your kitchen,” she said. grocery with living quarters above, “We bring most of the flavor to the by creating two affordable housing dish, so it’s easy!” units over the café, the buildCatch Poppy Considering the 17 years it took Tooker on her radio ing’s economic outlook changed show, “Louisiana to get back to the Seventh Ward, dramatically. Eats!” Saturdays that upbeat “easy” attitude may “We were finally able to qualify for at 3 p.m. and be the true secret to the Vaucreslong-term, low-interest loans from Mondays at 8 p.m. sons’ success. T on WWNO 89.9 FM. Louisiana’s Office of Community

From a meat market to a café to a sausage-processing facility — and back to a café — the Vaucresson culinary legacy is a lesson in the value of tenacity. BY POPPY TOOKER

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eventh Ward family roots are a point of great pride for Vance and Julie Vaucresson at Vaucresson’s Creole Café. Vance’s great-grandfather, Lovinsky Vaucresson, migrated to New Orleans in 1899 from Alsace, France. His son, Robert Lovinsky Vaucresson, initiated the family’s Seventh Ward presence with a butcher’s stall in the St. Bernard Market, eventually amassing enough capital to open his own meat market nearby on the corner of North Johnson Street and St. Bernard Avenue. Third generation Sonny Vaucresson was tapped to take over his father’s meat market when Robert passed away, but Sonny dreamed big. He expanded into the liquor business, had a cigarette machine company and invested in real estate. In 1965, handsome, gregarious Sonny opened Vaucresson’s Creole Café on Bourbon Street, the first business owned by a person of color there since Reconstruction. Over gumbo and poor-boys, Larry Borenstein and Alan Jaffe brainstormed the first New Orleans Jazz and Heritage Festival at Sonny’s café, inviting him to sell food at the fest, a tradition that continues over 50 years later. When the café closed in 1974, Sonny’s attention was laser focused on his sausage business. In 1970, he purchased a building on the

IN THE BIZ TOURISM

JENNIFER GIBSON SCHECTER was once a tourist in New Orleans herself and is now proud to call NOLA home.

The Tropics on our Doorstep

Gas prices are no bother when a staycation is possible. BY JENNIFER GIBSON SCHECTER

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later operated as the St. Vincent Guesthouse, a run-down but affordable hotel and youth hostel prior to redevelopment. Upon walking up the porch steps, we were greeted by Michael, a tall man in a crisp uniform whose friendly smile and demeanor were as genuine as the building’s wrought-iron balconies. He took our bags and set the tone for our stay — one that was guided by numerous hospitality professionals who were kind and accommodating. The hotel’s interior design by Lambert McGuire Design harkens to Italian modern, with mid-century and even Art Deco accents that are all at home in the 150-year-old building, the façade of which is largely untouched. As I stood at the check-in desk, I told my husband I wanted to move in and become one of those fabulous and mysterious hotel residents who glides through the halls in a caftan, and no one quite knows where my money comes from. We were able to check in early and settle into our room before spending the day at the pool. For guests whose rooms are not ready before 3 p.m., the front desk will hold your bags and give

I L LU S T R AT I O N BY PADDY MILLS

ast month, my husband and I were looking into a weekend getaway. We considered a Gulf Coast beach vacation and researched hotels. Then we weighed the time it would take to drive and gas costing almost $4.50 per gallon, and we canceled our plans. I was disappointed — that is, until I remembered we happen to live in a subtropical climate and have award-winning hotels with pools a few miles from our house. We booked a room at the Hotel Saint Vincent and made dinner reservations at Palm & Pine and brunch reservations at San Lorenzo. With the money we were saving on gas, we could do a 24-hour staycation splurge instead of crossing state lines. Hotel Saint Vincent opened in June 2021 and was named one of the “Best New Hotels in North America and the Caribbean” by Esquire for 2022. It is located in the Lower Garden District in the historic building that originally served as the St. Vincent’s Orphan Asylum and

you pool access immediately. Plan on spending at least two hours at the pool. The comfortable chaise lounges shaded by plentiful umbrellas were relaxing, and even later in the day when the pool was bustling with guests, people were happily sitting on steps and ledges, or simply standing in the pool while sipping cocktails from the poolside bar. The landscaping of palm trees and tropical shrubs creates a literal oasis in the courtyard of the hotel. For dinner, we ventured off property to a restaurant that’s been on my list to try since it opened in 2019, Palm & Pine. Located in the French Quarter in a renovated townhouse on Rampart Street, its exposed brick and open kitchen concept welcome guests looking for a New Orleans interpretation of Mexican, Central American and Caribbean cuisine. Palm & Pine has weathered the storms of Hard Rock Hotel closures, COVID-19 pandemic closures, and actual storm closures, and I’m so grateful it has. The menu features locally sourced products, produce, seafood and meat treated with a tropical approach. All I can say is my husband almost lost his manners and wanted to lick the bowl. To cram one more experience into the day, we stopped in at the hotel’s luxe lounge, the Chapel Club, for live jazz presented in partnership with Preservation Hall. The moody interior was enlivened by guests truly enjoying themselves. Even the staff appeared to be having a good time. For brunch the next day, we ate at the hotel’s main restaurant, San Lorenzo. It features Italian coastal cuisine and serves tasty brunch standards as well. We were sad to check out of Hotel Saint Vincent and soothed our souls with some shopping at NOLA Mix Records, Miette and Trashy Diva, all walking distance from the hotel on Magazine Street. After 24 hours of staycation, we truly felt rejuvenated and have started saving up for a return trip. For reservations and to learn more, visit saintvincentnola.com and palmandpinenola.com. T

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IN THE BIZ SPORTS

CHRIS PRICE is an award-winning journalist and public relations principal. When he’s not writing, he’s avid about music, the outdoors, and Saints, Ole Miss and Chelsea football.

No Ceiling on NFL’s Potential

Denver Broncos’ $4.65 billion sale will benefit entire league BY CHRIS PRICE

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through 2033 at $23.6 billion; $22.6 billion for NBC to televise Sunday Night Football; and Amazon Prime’s $13.2 billion deal to stream Thursday night games through 2032. That will cause each team’s payout to rise from $220 million in 2021 to $377 million in 2032. The league’s NFL Sunday Ticket contract with DirecTV is worth about $1.5 billion annually and expires after the 2022 season. The advent of legalized gambling at in-person and/or online and mobile sportsbooks in 30 states and the District of Columbia has also driven more spectators to their screens to take in game action. During the 2021 regular season, NFL games averaged 17.1 million viewers (TV and digital) — the highest regular-season average since 2015 and up more than 10% from 2020, according to the league. The Walton-Penner ownership group was one of four finalists for the team, including groups led by Philadelphia 76ers and New Jersey Devils owner Josh Harris; Mat Ishbia; and investors Jose Feliciano and Behdad Eghbali. The NFL is a cash cow. Those with the means to own teams know this and are dropping stacks of cash to get in as soon as they can. It will be interesting to see where things go from here; there doesn’t seem to be a ceiling on how profitable the NFL can be. T

FORBES 2021 TOP 10 NFL TEAM VALUES RANK

TEAM

1 2 3 4 5 6 7 8 9 10 25

Dallas Cowboys New England Patriots New York Giants Los Angeles Rams Washington Football Team San Francisco 49ers Chicago Bears New York Jets Philadelphia Eagles Denver Broncos New Orleans Saints

VALUE (BILLIONS) $6.5 $5.0 $4.85 $4.8 $4.2 $4.175 $4.075 $4.05 $3.8 $3.75 $2.825

1-YEAR % CHANGE 14 14 13 20 20 10 16 14 12 17 14

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ast month, news broke that the Denver Broncos were sold to the Walton-Penner group for a reported $4.65 billion, a record for an American sports team. Most people can’t even dream of owning $4.65 billion, much less dropping that amount on a football team. Rob Walton — the oldest son of Walmart founder Sam Walton, whose schtick included driving an old red pickup truck to appeal to the everyman — led the group that purchased the “mile high” city’s football team. It’s a daunting investment, but one the heirs of the Walmart dynasty can expect to make a significant return — maybe even doubling their money within a decade. The NFL has 32 franchises, and they don’t hit the open market too often. The last team to be sold was the Carolina Panthers. In May 2018, hedge fund billionaire David Tepper bought the club for $2.275 billion, less than half of the Broncos’ purchase price. The Broncos were put on the market in February after legal battles within previous owner Pat Bowlen’s family were settled. Bowlen, who purchased the team in 1984 for about $70 million, passed away in 2019.

In its 2021 valuation of NFL teams, Forbes valued the Broncos at $3.75 billion, the 10th most valuable franchise in the league. For the 15th straight year, the Dallas Cowboys were considered the most valuable franchise at $6.5 billion, while the Buffalo Bills were the least valuable at $2.27 billion. (Forbes ranked the New Orleans Saints 25th at $2.825 billion.) It is interesting to note that in 2021 the value of each NFL franchise increased at least 10% from a year earlier, with the Tampa Bay Buccaneers increasing a league-leading 29% in value (Tom Brady and a Super Bowl championship will do that for you). Double-digit growth in a team’s valuation is a trend that has continued for much of this century. The average NFL team value, according to Forbes, is now $3.48 billion, even as the league went through a tough 2020 dealing with the COVID-19 pandemic. It’s seen a 14% increase year over year. One of the main reasons for the increase in NFL franchise values is the contracts the league has struck with broadcast partners to televise games over the next decade. In March, the NFL signed $112.6 billion worth of media rights deals, including extending ESPN’s rights to Monday Night Football through the 2032 season for $27.2 billion; FOX’s coverage of Sunday NFC games through 2033 for $25.2 billion; CBS’ rights to Sunday AFC action

IN THE BIZ ENTREPRENEUR

KEITH TWITCHELL spent 16 years running his own business before becoming president of the Committee for a Better New Orleans. He has observed, supported and participated in entrepreneurial ventures at the street, neighborhood, nonprofit, micro- and macro-business levels.

Strength in Numbers The Renegade Artists Collection is creating its own path to success BY KEITH T WITCHELL

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I L LU S T R AT I O N BY PADDY MILLS

rt has enriched human life going back to pre-history, appearing in its earliest forms as cave paintings and ritual figures. While we can only speculate on the status of those artists in their tribes, it is safe to say that throughout recorded history the path to being a successful artist is not an easy one. “Every artist I know that’s successful works their butt off,” said Erin McNutt, local painter and founder of the Renegade Artists Collective. “Every one works seven days a week.”

Of course, social media is also time-conRenegade is a collaboration among 12 local suming: “I work on it every day,” noted Grace. artists, working in a variety of mediums. The And as seems to be the case with everything else collective began taking shape in 2018. McNutt, social media-related, there are potential pitfalls frustrated by the scarcity of local artists being as well; chief among them is having the artist’s represented in local galleries, began interwork stolen. viewing artist friends and posting their stories There is a stereotype of artists who believe in a blog. Expanding beyond her original that simply because they create, the world owes circle, McNutt met painter Cheryl Grace, who them a living. McNutt and Grace acknowledge suggested getting the featured artists together that there is some truth behind this but point and doing a show. out that art schools typically provide little The first presentation was in 2019 and training on how to make a living. drew hundreds of people, but any momentum “Artists don’t get taught the business side in was lost when the pandemic shut down all school,” McNutt observed. “From marketing to in-person gatherings. Nevertheless, the collecethics, there’s very little attention to the commontive remained connected and returned with a sense, practical aspect of being an artist.” second successful show in March of this year. “All the artists in our group understand the busiThe Renegade name reflects the group’s ness aspect because they are professional artists,” general outsider status on the local art scene. added Grace. “Most of them have worked for over “We wanted to convey that we were not in 20 years to build their followings.” regular galleries, didn’t have regular gallery Many successful artists also rely on family representation,” explained Grace. “As a group members to help with the business side of things, we wanted to do our own thing. By design, our or logistics, or other forms of support. “It’s rare shows have not had a theme. The artists present to see an artist do everything,” said McNutt. what they want to present.” The collective itself is a support system for While this entrepreneurial approach provides the participating artists. The shows bring signiffreedom and control for the group, it is hard icant numbers of new eyes to the work of each work, performed on a very limited budget. Each member and generate wider publicity. Many show requires promotion and publicity. A band members find that they subsequently get new is hired and beverages are served. Security is business beyond the shows themselves. required. And the collective maintains a website To build in this success, the collective is (www.renegadeartistsneworleans.com) to help working to expand the number and geography with promotion. Each artist makes a small of its shows. One is planned for Waveland, financial contribution to cover the expenses. Mississippi, in October, and the Northshore is Just as important, each artist promotes the a top priority. show through his/her social media. Virtually every artist alive creates for the “Everyone has a pretty big following on social satisfaction, the joy, the love of creating. That, media,” noted McNutt. however, does not put food on the table. The Indeed, social media is now vital to success Renegade Artists Collective in all kinds of creative fields, provides an opportunity for that including music, writing and creativity to flow freely while the performance art. “Social media and Keith Twitchell’s blog, creators make a living. marketing are just as important as “Neighborhood “It’s a survival thing!” concluded the act of creating,” McNutt stated. Biz,” appears Grace. T “It’s difficult, because a lot of artists’ every Thursday on BizNewOrleans.com. brains don’t work that way.”

BI Z N E WO RL E AN S.COM

New Orleans 500 Influential, Involved and Inspiring Executives 2022 EDITION

The New Orleans 500, an annual publication from Biz New Orleans magazine, profiles the business leaders who are driving the greater New Orleans economy today and making decisions that will shape the region’s future. The book is overflowing with details about regional CEOs, presidents, managing partners, entrepreneurs and other executives who are as devoted to their professions as they are to civic affairs. It’s a diverse group that includes fourth- and fifth-generation owners of family businesses as well as young, social media-savvy entrepreneurs building their brands one like or follow at a time.

O R D E R T O D AY B I Z N E W O R L E A N S .C O M 22

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PERSPECTIVES

LAW 24 BANKING + FINANCE

What are some ways investors should change their strategies with rising interest rates?

HEALTHCARE

GUEST

A new Northshore healthcare initiative is bringing former competitors together for the greater good.

How to protect your investment portfolio from rising interest rates

A majority of Louisiana voters support legalizing marijuana, yet legislation to do so can’t seem to pass — and neither can bills to enact harsher penalties.

PERSPECTIVES BANKING + FINANCE

What are some ways investors should change their strategies with rising interest rates? SUZANNE T. MESTAYER Managing Principal ThirtyNorth Investments

FRANK TORO Financial Advisor Edward Jones

The impact of rising rates on the markets is real, creating high volatility and reduced values of both stocks and bonds. For long-term investors, work with your advisor to review the allocation of your investments within your overall strategy. Diversification remains a simple yet powerful tenet of investing. The growth darlings of the stock market have dropped significantly, and attention has turned to value-oriented stocks, which generally perform better in a rising rate environment while also delivering dividends. Real estate and commodities are also considered inflation hedges. Consider them all in your allocation. Overall, the reduced prices of today provide opportunities for future upside, but remember that even the best investor cannot reliably predict the bottom.

BIZ N E W ORL E ANS

If you follow the financial news even casually, you may know that bond yields have been rising since the year began. What does this mean to you, as an individual investor? It might be positive news – the 10-year Treasury yield is usually a good indicator of investors’ confidence about the economic outlook. However, sharp jumps in these yields certainly can cause sudden pullbacks in stock prices, as has occurred recently. But such drops often prove to be short-lived, with stocks eventually rallying. Keep in mind, though, that bond yields and interest rates are closely related, so if interest rates also go up, the value of your existing bonds could drop. On the other hand, rising interest rates can help and hurt stock prices, depending on the type of industries involved. Overall, you’re better off not making drastic changes to your portfolio in anticipation of interest rate movements. Instead, stick with a personalized, long-term investment strategy based on your individual goals, risk tolerance and time horizon. Ultimately, your moves, not external forces, drive investment success.

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MICHEL M. LEGRAND Wealth Management Advisor Northwestern Mutual

Rising rates are one of many risk factors we consider in our investment decisions. The clear loser in a rising rate environment is fixed income, so we have avoided that. We generally focus on investing in fundamentally sound companies with strong margins and cash flow generation, organic growth opportunities and low debt. These companies should perform relatively well in a challenging economic environment. There are a number of quality and value strategy ETFs [exchangetraded funds] for investors to focus on these types of companies. It’s also important to consider other prevailing risk factors and their potential impact on various asset classes. Boysie Bollinger Chairman and CEO Bollinger Enterprises

JOHN MORGAN Wealth Management Specialist Raymond James

We are recommending that people take advantage of the current rates on treasury I bonds for their shorter-term savings needs. Rates are now 9.62% until October of this year and will readjust based on inflation. Note: Individual investors are limited to buying 10,000 each per year. Investors should also be looking to shorten maturities of bond and bond portfolios in order to be able to buy higher interest rate bonds as rates rise. They should keep an eye on recession probabilities and make sure they own high quality bonds in the event the economy moves toward recession.

Work with a financial advisor to help you design and stick to a well-developed plan with strategies that work through varying interest rate environments. For long-term investors, capitulation to a bear market by fleeing equities can often be a tragedy from which retirement plans may never recover. The only way to be assured of capturing equities’ premium returns is by riding out occasional declines. Of course, there is no single strategy that is right for every investor. The best approach is to analyze a broad spectrum of ideas and choose the right ones, or right combination that best suits your needs.

Derek L. Fossier Director of Investments Equitas Capital Advisors

A balanced portfolio, and one meant to withstand rising interest rates, includes investment in companies with pricing power. Look for companies that have strong market position and few competitors — they can raise prices as needed. An example is an MLP (Master Limited Partnership) pipeline, which basically moves oil from the well to distribution centers. Avoid expensive growth stocks, especially those without profits, and avoid longer-dated fixed income.

BI Z N E WO RL E AN S.COM

PERSPECTIVES HEALTHCARE

Better Together

A new Northshore healthcare initiative is bringing former competitors together for the greater good. BY DREW HAWKINS

ig things are happening in the healthcare industry on the Northshore. Industry leaders across the threeparish region have come together to form an initiative called “Northshore Healthscape: A Collaborative Enhancing the Pulse of our Regional Healthcare Economy.” As its name implies, Northshore Healthscape is bringing stakeholders together in a sector-specific strategy to support the healthcare industry in the area. “I like to say it’s ‘coopertition,’” said Joan Coffman, president and CEO of St. Tammany Health System. “All of the hospitals and health systems that you would think are competing with each other are cooperating together toward this common goal with St. Tammany Corporation, our local economic development agency.” Northshore Healthscape is a three-year, multi-pronged strategic pilot program designed both to promote the Northshore as a healthcare destination and bolster the local healthcare workforce. Healthcare is a major economic driver on the Northshore in terms of both jobs and productivity, contributing more than $1.5 billion to the three-parish gross regional product (GRP). “The industry represents 22,000 jobs in the area, and demand is strong with 5,000 unique postings for jobs in the past 12 months,” said Chris Masingill, CEO of

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St. Tammany Corporation. “Projections also indicate that jobs in this sector will increase by 11% by 2026.” The initiative’s benefits include developing a strong, strategic, collaborative approach to engaging with healthcare leaders. Having a shared strategy means health systems can leverage information, tools, resources and best practices to create a comprehensive and holistic initiative that supports the industry sector as a whole instead of one particular organization. One of the initiative’s first goals is addressing the workforce shortage that is particularly acute in the healthcare sector. A key component to meet that goal is Northshore Technical Community College, which will provide training to future healthcare professionals in a variety of roles. The initiative also aims to use economic growth and development to create an “ecosystem of support businesses” that can help provide health systems with what they need to care for patients. Masingill said it’s “energizing and inspiring” to see this type of unified effort, and he believes the initiative could serve as a model for economic developers across the nation. “I’m excited to see how we will continue to maximize our combined efforts in a targeted and intentional way for tangible outcomes that benefit our healthcare partners, patients and workers,” he said. T

The possibilities for this initiative are substantial. Building a regional support system is about not only creating new business opportunities but also accessibility so that the Northshore is positioned as a healthcare destination across the Southeast United States. We recognize that there are some unique opportunities for specialization, expansion and scaling workforce training and talent development programs as well. From a branding and marketing perspective, we can highlight this better together to communicate our strengths across the region with one collective and unified voice, while maintaining the unique identities and business focuses of each individual institution. Chris Masingill, CEO of St. Tammany Corporation

JOAN COFFMAN President and CEO St. Tammany Health System

I can’t stress enough the optimism I feel about this initiative. We’re grateful in this community to have so many servant leaders who recognize the value of working together toward a common goal. The real winners from this alliance will be local residents, who can expect the level of care in the region only to increase.

MELISSA B. KIRSCH Executive Director Workforce Development Board, Plaquemines, St. Bernard, St. Tammany

As the leading agency in workforce development, we make it a point to be involved in all efforts to support our industry sectors with the greatest impact to our communities. When industry comes together with partners — like workforce development and so many other important partners — real change can happen to serve that industry!

BI Z N E WO RL E AN S.COM

PERSPECTIVES LAW

DID YOU KNOW? There are nine medical marijuana dispensaries in Louisiana: one in Alexandria, Lafayette, New Orleans, Baton Rouge, Lake Charles, Shreveport, Houma, Madisonville and West Monroe.

PUFF, PUFF, PASSING ON LEGISLATION A majority of Louisiana voters support legalizing marijuana, yet legislation to do so can’t seem to pass — and neither can bills to enact harsher penalties. BY DREW HAWKINS

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here’s been a lot of high-level discussion about medical and recreational marijuana by state and local officials recently, but the smoke hasn’t yet cleared enough to see exactly what the future of cannabis looks like in Louisiana. Some lawmakers say there isn’t enough public support for some of the proposals, but others argue the measures have far-reaching economic benefits and the state has a real opportunity to establish a foothold in the industry ahead of potential national legalization. The 2022 legislative session saw a host of bills related to cannabis, such as HB 125, which sought to regulate “the cultivation, manufacture, and retail sale of cannabis and cannabis products” and HB 1028, which aimed to remove jail time for possessing marijuana paraphernalia. Both of these legislative proposals failed to pass, but others, like HB 629, which prohibited searches of a person’s home based on the smell of cannabis, did make it through the state’s house and senate, signaling active and nuanced discussions about marijuana by lawmakers, and an atmosphere that appears to be much more open to changing the state’s laws regarding cannabis use than in previous sessions.

BI Z N E WO RL E AN S.COM

Last year, Gov. John Bel Edwards signed a new law that removed the possibility of jail time for possessing small amounts of pot, essentially decriminalizing marijuana statewide, a term that generally means to remove the threat of jail time for breaking the law, instead replacing it with a fine or some other less harsh penalty. But even then, Gov. Edwards — the son and brother of sheriffs — insisted that new law doesn’t decriminalize the drug. In a written statement, Gov. Edwards said that “contrary to the narrative developed in the press and elsewhere,” the law doesn’t decriminalize marijuana possession, and that he signed it because of the “toll of over incarceration on our people and our state.” “Taking this action is another step forward for Louisiana’s criminal justice reform efforts,” Gov. Edwards said. Marijuana advocates have long pointed to the impacts of marijuana possession laws — which often disproportionately affect people of color — as reason to pass laws that decriminalize the drug. “Marijuana use is widespread, despite criminal penalties,” said Rep. Richard Nelson, a Republican representative of District 89. “Enforcing these penalties costs the state money, breaks up families, and imprisons citizens that could otherwise be productive members of society. These measures cannot be justified for using a drug that causes less societal harm than other legal drugs like alcohol or tobacco.” Nelson also said that penalties for possessing marijuana, even in small amounts, have significantly more of an impact on poorer citizens who can’t afford quality legal representation. “Decriminalization does not permit a legal cannabis market, but avoids most of the economic costs associate with enforcement and incarceration,” Nelson said. “In Louisiana, an arrest for marijuana possession costs approximately $6,000 to the justice system.” That’s why Nelson wants to go further than just decriminalization. In the 2021 legislative session, he brought a bill to legalize, regulate and tax marijuana, which he said would have generated between $120-140 million per year that could be used to fund other state projects like roads, schools and infrastructure, as well as ensure that marijuana users have access to a safe, regulated product. “Legalizing recreational marijuana in Louisiana, if done effectively, would create an approximately $750M industry that is currently captured by the black market,” Nelson said. “This would have a significant impact in creating

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“

Legalizing recreational marijuana in Louisiana, if done effectively, would create an approximately $750M industry that is currently captured by the black market. Rep. Richard Nelson, Representative of District 89

”

jobs and generating legitimate economic activity throughout the state, but it would be especially felt in the rural areas that struggle in traditional economic development.” Additionally, Nelson added that recreational marijuana would create a domestic cannabis industry prior to legalization on a national level, which would allow the industry to be established in Louisiana before opening it up to out-of-state competition. “After national legalization occurs,” Nelson said, “states with established industries will have a significant competitive advantage over states that have yet to introduce legalization.” In New Orleans, local politicians have also expressed their support for reform. Since he began his career as public defender, Councilmember JP Morrell has been a staunch criminal justice advocate in support of marijuana decriminalization. Morrell also supports full legalization. “Every year that the state of Louisiana declines to legalize marijuana, we miss out on millions of dollars in tax revenue that could have gone to infrastructure, early childhood education, and other key sectors in the state,” Morrell said. “We know that marijuana legalization can revitalize a state’s economy, as we have seen it in states such as Colorado and Oklahoma. With six out of 10 Louisianians in support of marijuana decriminalization, it begs the question: ‘Why haven’t we done this sooner?’ Regardless, Nelson’s bill failed to gain enough support to pass.

In addition to proposed legislation that sought to legalize or decriminalize marijuana in last year’s session, there were also some that went in the other direction, proposing making penalties for using or possessing cannabis harsher, like HB 700, sponsored by Rep. Lawrence A. “Larry” Bagley, a Republican from District 7. The bill, which failed to advance, sought to impose possible jail time for people under the age of 18 found in possession of marijuana. Rep. Bagley said that while the state has significantly reduced penalties for marijuana, it’s still classified as a Schedule I substance under the Controlled Substance Act—the same classification as heroin and LSD—meaning it has a high potential for abuse, and has no accepted medical use. Plus, he said his constituents just don’t support it. “I have polled my district several times and the largest margin of pro-legalization was 26%,” Bagley said. “I can’t vote for it. It is illegal and people that use it take that risk…. Being punished is the outcome of use.” Rep. Bagley’s district, however — comprised of Caddo, DeSoto and Sabine Parishes — doesn’t represent the statewide view on marijuana, which also appears to be rapidly changing. According to a University of New Orleans Research Center poll released in April 2022, 55% of registered voters in Louisiana support making cannabis legal — a 22% increase from just four years ago. The change can be seen in St. Tammany Parish — Rep. Nelson’s district — in that it elected a representative that supports cannabis legalization. St. Tammany has some of the harshest penalties regarding marijuana; A man named Kevin O’Brien Allen was sentenced to life in prison for selling $20 worth of pot to a childhood friend. Advocates and lawmakers like Nelson argue that the cost of incarcerating Louisianans for marijuana is just too high —economically, financially and morally— and causes real, often irreparable harm by breaking up families and ruining lives. They believe change is coming, and the state should get out in front of it. “Much of the policy debate around marijuana is focused on whether or not people should use it,” said Nelson. “The truth is the use is widespread regardless of the penalties. Our only choice is do we want to have a regulated, taxed market that generates hundreds of millions of dollars to offset any harm, or do we want to maintain a $750M black market that funds drug dealers and cartels?” T

PERSPECTIVE GUEST

DEREK FOSSIER is the president of Equitas Capital Advisors, LLC, a New Orleans firm that designs, builds and delivers financial solutions to investors. He can be reached at dfossier@equitas-capital.com

Baby, It’s (Maybe Getting) Cold Outside

How to protect your investment portfolio from rising interest rates BY DEREK FOSSIER

with big loans will have bigger bills to pay as rates increase, making it harder for them to balance their budgets. Instead, look for companies with low debt that can maintain earnings with little investment. Some tech companies can fit that mold, especially if they have other features in this list.

T 1 32

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to inflation and the stressed supply chain. Consider a 5% allocation of your portfolios in commodities.

BUT DON’T FORGET TO CONSIDER POLITICAL RISKS Energy companies, like ExxonMobil,

are enjoying high prices for the oil they sell, but White House leadership concerned with climate change and other environmental issues may affect the value of energy stocks.

LOOK FOR DIVIDENDS Seek out mature companies that are paying dividends, especially if they have a history of increasing those dividends. When the economy is hot and interest rates are low, people tend to be attracted to exciting new companies like Tesla or Facebook (now Meta). But when the economy is cooling down, companies that are not heavily reinvesting into their businesses can give profits back to the company’s stockholders. Now is a good time to revisit old reliables, such as IBM and Philip Morris International.

LOOK FOR COMPANIES WITH PRICING POWER

Companies that have a strong market position and few competitors can raise prices as needed. One example is an MLP (Master Limited Partnership) pipeline, which basically moves oil from the well to distribution centers.

he smoking hot U.S economy is thawing out. Nasdaq is down. Inflation is up. But you can’t invest directly in it. Will the economy chill even more? Turn downright cold? Nobody knows for sure. But what we do know is that there are steps investors can take to protect portfolios in times of high inflation and rising interest rates. With the right planning, your portfolio can limit downside and even find pockets of upside in a cooling economy. A few tips: ASK YOUR ADVISOR ABOUT COMMODITIES As the only broad category of investment that has been positive year to date, commodities continue to make money. Agricultural commodities such as soybeans and corn, along with energy and oil and gas, continue to have high consumer demand despite rising costs due

AVOID DEBT-HEAVY COMPANIES Companies

TWO WORDS: REAL ESTATE Mortgage rates

have risen off the bottom, yet remain near historic lows. Additionally, construction of new housing has trended under the rate of household formation since the financial crisis in 2008, so concerns of oversupply are mellowed. If you buy now and secure a fixed rate mortgage, your monthly payments will stay at that level. For a $300,000 loan, every 1% increase means an extra $200 payment a month or an extra $2,400 a year. Real Estate Investment Trusts (REIT) also deserve a closer look. Rising rents help battle rising rates. REITs have diversified in areas like data centers and cell towers, beyond the old retail and office sectors which are a lower slice of the market.

LEAN TOWARD VALUE EQUITY AND INTERNATIONAL EQUITY ASSET CLASSES Tilting, not

over-investing, in these areas during high inflation can be a smart idea. A recent Equitas study showed these asset classes perform better in times of higher inflation, perhaps because both categories start at lower price-to-earnings ratios than the S&P 500. History is no guarantee, but during periods of rising interest rates, we tend to see price-to-earnings ratios flatten out. As the Fed raises the interest rates to counter the effects of inflation, the U.S. economy is sure to cool down. But with the right planning, you can make sure your portfolio remains hot. T

I L LU S T R AT I O N BY PADDY MILLS

SPONSORED

CONTINUING EDUCATION

Changing careers is common— various statistics suggest people change their career an average of three to seven times in their lifetime. Whether you’re looking for a fresh start, to improve a current skillset and knowledge base, or to simply add to your life experience and job qualifications, going back to school can be a helpful next step. This could involve working towards a two- or three-year post-graduate degree or simply a certification offered by a training program lasting eight to twelve weeks. Today’s schools offer a variety of options to match the busy lifestyles of working professionals choosing to continue their education. Online courses and night classes offer flexible learning opportunities, and they may not be cost prohibitive—from scholarships

and financial aid to reduced tuition with no application fees, you can likely find a path forward that won’t break the bank. The Tulane University Executive MBA (EMBA) program has proudly educated the future business leaders of the Gulf South region for the past 40 years. Designed for experienced professionals who wish to hone their leadership and decisionmaking skills to reach the next level, the program is completed on alternate weekends over 17 months. Within the close-knit cohort, students collaborate with professional peers representing a diverse group of organizations from a broad range of industries including healthcare, technology, and energy. Students report that the wealth of student engagement

in the EMBA classroom is a key differentiator in their experience and learning. Tulane’s lockstep curriculum offers a solid foundation in business fundamentals with a concentration in global strategy, as well as elective tracks leading to concentrations in finance or management. The curriculum culminates in a cross-cultural management seminar in New Orleans and a week-long international seminar abroad. Upon completion of Tulane’s EMBA program, students join a prestigious network of over 20,000 Freeman School of Business alumni worldwide. Give yourself an edge in the marketplace and ignite your career by applying to Tulane’s EMBA program beginning in January 2023. Attend a virtual info session to learn

more about the program or visit emba.tulane.edu. University of Holy Cross (UHC) invites students of all ages and backgrounds to launch a meaningful career and live a life with purpose. Steeped in Catholic heritage and tradition, UHC promotes the ideals of service and care for others in an environment of mutual support and faith, where every student is more than just a number. Set on a lush, serene campus just minutes from downtown New Orleans, UHC’s campus offers the best of both worlds. The student body is small enough to accommodate a personalized education experience, encouraging one-on-one engagement with educators, faculty and peers, while maintaining a larger community of compassion, care and accountability. Whether pursuing an undergraduate, master’s or doctoral degree, there’s a program to guide you through every stage of your career. Flexible scheduling also makes it easier than ever to balance continued education with an existing career. The University of Holy Cross is a top choice for receiving a high-quality education without the debts typically associated with a private education; in fact, UHC graduates finish school with less debt than at any private college in the region. Financial aid and scholarship programs help students cover college costs, and academic skills center counselors host FAFSA Fridays every week to help applicants fill out the federal financial aid form. With over 65 majors and programs and an average class size of 13, an education at University of Holy Cross is the first step toward maximizing your potential, achieving your dreams, and living the life you’ve always envisioned for yourself. For more information on available programs and admissions, visit go.uhcno.edu.

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by Kelly Massicot, Chris Price & Kim Singletary portraits by Greg Miles

& NOTABLES

BIZ NEW ORLEANS

Todd McDonald President

Liberty Bank

BECKY MOWBRAY PRESIDENT & CEO

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ne of the largest black-owned banks in America, Liberty Bank and Trust will celebrate its 50th anniversary this November under only its second president, Todd McDonald, son of the bank’s founder, Alden McDonald. Exposed to the finance world all his life through his father, McDonald said he chose banking for himself for two reasons. “I saw for myself how helpful we are to the community we serve,” he said. “With most large banks if you don’t fit into a certain box, they can’t be for you. As an MDI [minority depository institution) we can play outside the box … Over the past eight years we’ve provided over $1 billion in mortgage lending — a lot of that to people who wouldn’t qualify in the secondary market.” McDonald said he was also attracted by the variety of opportunities. “Banking can expand into almost any industry, as we’ve done with our entrance into affordable housing and having our own national leasing company and insurance agency.” McDonald has held numerous executive positions at Liberty Bank; most recently he served as executive vice president of corporate strategy. Liberty Bank currently boasts more than $1 billion in assets and physical locations in 11 states. McDonald said his plans include further investing in the bank’s online platform and continuing to form strategic partnerships with fintech companies (those that use technology to improve financial services for businesses and consumers).

BUREAU OF GOVERNMENTAL RESEARCH (BGR)

nizations just don’t have time to do. Even the elected officials, they may have their priorities, but a lot of time don’t have the time to have their staff look into these questions.” Mowbray became leader of the organization in January. Previously, she worked as an assistant inspector general and program evaluator in New Orleans and spent 18 years as a journalist. She said BGR’s main focus is working on “core issues in which everyone has an interest,” like finding sustainable ways to fix and maintain our streets, finding better ways to pay for drainage, and making sure that tax assessments are fair and equitable for everybody. “In an era of misinformation and extreme partisanship, BGR has never mattered more,” Mowbry said. “We’re nonpartisan. Our research is thoughtful, reliable and incredibly well done. Our goal is to bring people together around solutions and find the best path forward. Society really needs us.”

JULY 2022

The Bureau of Governmental Research (BGR) was founded in New Orleans in January 1932 to monitor and analyze government policies, finances and processes as then U.S Senator-elect Gov. Huey Long muscled his notorious political machine into the city. In the decades since then, the private, nonprofit, independent research organization has issued more than 1,500 objective, nonpartisan public policy reports to inform public policy making and improve government function. As local media organizations are shrinking and don’t have the resources to provide the breadth and depth of coverage they once did, BGR President & CEO Rebecca Mowbray said the BGR’s work is vital. “Our staff is incredibly talented and knowledgeable about the way government works and the way it should work and ... able to spot the things that are broken,” she said. “We can take a deep look and do the research that other news orga-

BIZ NEW ORLEANS

SOPHINA UONG OWNER/CHEF

MISTER MAO

P. 36

Sophina Uong is not afraid of a challenge. After years working in San Francisco’s best restaurants, winning “Grand Champion Grill Master” on the Food Network show “Chopped,” and managing a restaurant for famed chef Andrew Zimmern in Minneapolis, in the midst of the COVID-19 pandemic, Uong and her husband and partner, William Greenwell, opened Mister Mao in what had been the home of popular Uptown restaurant Dick & Jenny’s for more than two decades. The Cambodian American chef had only three weeks of operation before Hurricane Ida hit, wiping out thousands of dollars of food and pushing the old equipment inherited from the previous restaurant past its limit. Almost a year later, Uong said she’s still struggling with staffing, but her adventurous culinary creations packed with strong

flavors that she admits are “not for everyone” have created a following. “We have a lot of regulars,” she said. “I think we’ve stayed busy not despite COVID but because of it. We’re a celebratory place. People come here to have fun.” While she has hopes to soon have the staff to bring back the dim sum carts she introduced before the hurricane and get back to serving seven nights a week, Uong is focused not only on her own success, but on helping other local entrepreneurial chefs. “I personally always love the opportunity to go into a new kitchen and cook, and I wanted Mister Mao to be a place where other chefs can do that,” said Uong. “So, I started inviting chefs with popups to come and cook once a week for a brunch or dinner. The proceeds from every guest popup are then given to whatever charity they choose.”

Dr. John H. Stewart, IV Director LSU Health New Orleans/LCMC Health Cancer Center

JULY 2022

s director of the LSU Health New Orleans/LCMC Health Cancer Center since June 2021, Shreveport native Dr. John H. Stewart is focused on helping New Orleans become a beacon for immunotherapy research, cancer clinical trials and research, and policy in cancer care for underserved populations. “I’m working to set the strategy across the system to make sure that patients don’t have to leave to go to MD Anderson or the University of Alabama in Birmingham for cancer care because we have care here that is as good or better than what they’d receive elsewhere,” he said. “Plus, they’d get to be close to home to receive it. As a native of Louisiana, this is my highest personal and professional honor.” Stewart recognizes the challenge he faces fighting the disease so close to the area notoriously known as “cancer alley,” which lies between Baton Rouge and New Orleans. “Having higher incidence of cancer and overall clinical outcomes is multifactorial,” Stewart said. “There are a number of issues that come into play when thinking about access to cancer care, socio-economic determinants and outcomes. When we think about access to cancer care, people have said anybody can access care, but not everyone can access good care. We have to make sure that we have good care available for the citizens of Louisiana and reduce inequities in cancer care for the people we serve throughout the state.”

CAMILLE SUMNER

EXECUTIVE DIRECTOR

YOUNG LEADERSHIP COUNCIL (YLC)

AS THE NEW executive director of

the Young Leadership Council, Camille Sumner is bringing a fiery passion for community and the greater good to the organization in its 36th year. “I’m the happiest when I’m involved in the community,” said Sumner, who was hired in March. “I really want to make a change and support people to make their city better. That’s what I’ve been fighting for throughout my life and in all of my jobs.” The France native originally came to New Orleans to earn a master’s in political science from Tulane University. She fell in love

with the city instantly and after four years in Africa helping to develop small companies that support nonprofits, as well as women-led companies, Sumner returned to New Orleans during the coronavirus pandemic. Her main goal with the local nonprofit organization is urging New Orleanians, especially students, to stay in the city after graduation and use their talents to improve it. The YLC project “Power Ties” is one of Sumner’s main focuses in the coming year. The project introduces middleschoolers to career opportunities and partners with volunteers to teach business etiquette and job preparedness. Sumner said the YLC has just signed a partnership with the New Orleans Police Department. “The goal of our partnership is to aid NOPD with retention. YLC will do so by immersing NOPD’s young professionals into the New Orleans community through our projects and social events.” While still very new to the job, Sumner is confident she’s found a good fit. “When you have passion, you will never regret anything you do,” said Sumner. “You have to try and do your best. If you believe in it, it will always turn out good.” BI Z N E WO RL E AN S.COM

PAUL MATTHEWS

THIS PAST JANUARY, Paul

Matthews made waves in the maritime industry when he became the first AfricanAmerican head of the Port of South Louisiana For 10 years, Paul Matthews’ work in the maritime industry — which most recently included serving as deputy director for the Port of Plaquemines —has prepared him to lead the Port of South Louisiana into the future. For Matthews, that means wasting no time in bringing the second largest port in the country and the leader in grain export the recognition it deserves. “We’re going 100 miles per hour on purpose,” he said. “We’ve been looking at being aggressive, being strategic, and being focused, and as a result we will be successful. The port is going to be out there — it’s not going to stay on the sidelines.” Matthews said his team is currently focused on agriculture, infrastructure, energy transition and monitoring world events that have lasting impacts on the ports in Louisiana. Those include the war in Ukraine, as well as the expansion of the Panama Canal, which could bring more business and larger ships to the port, leading to more jobs. “We want to be aggressive to get projects done,” said Matthews. “We have to have a regional focus for our ports, and for the industry, so that we can be successful and put the state of Louisiana and the Mississippi River on the map.”

EXECUTIVE DIRECTOR PORT OF SOUTH LOUISIANA

PRESIDENT & CEO

David and Marion Mussafer Chief Innovation and Entrepreneurship Officer Tulane Innovation Institute

DOWNTOWN DEVELOPMENT DISTRICT (DDD)

Six months ago, Davon Barbour left California to try to resurrect New Orleans as one of the best cities in the nation. With a professional background in economic and community development and retail attraction and retention, Barbour assumed leadership of the Downtown Development District (DDD), a business improvement district that provides enhanced economic development, cleaning and safety services in the roughly 160-block area bounded by Iberville Street, the Pontchartrain Expressway, Claiborne Avenue and the Mississippi River. “Our goal is to really carry a worldclass downtown that leverages the assets within the district to create prosperity for all New Orleanians,” Barbour said. Cultivating economic development in the emerging biosciences is a major goal of his. “We think there’s a real opportunity to grow our economy by embracing

industries of the future, particularly health care and life sciences technology, so we’re diverting many of our resources to ensure the success of the biomedical district,” he said. “The redevelopment of the Charity Hospital site will bring new life into downtown. The expansion of Tulane University through various investments, notably its new innovation center, will cultivate entrepreneurship, celebrate innovation and help cultivate jobs.” Barbour’s goal will be achieved, he said, when downtown is once again crowded day and night. “Success, at the end of the day, is when someone is saying, ‘Hey, I opened a business in New Orleans and the DDD, the city, they were great to work with. You need to open your business here.’ Or as a resident, just saying ‘I received stellar services. The DDD, they’re an incredible partner. You need to live in downtown.’ That’s success for me.”

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Kimberly Gramm

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DAVON BARBOUR

ore than $100 million in investment capital — that’s what Tulane University is aiming to bring to the New Orleans region through its new Innovation Institute, set to launch later this year. Part innovation lab, part campus programming and part community accelerator, the Innovation Lab will initially be housed on the ground level of Tulane’s new Thirteen15 residential development in Downtown New Orleans. Following the completion of the university’s redevelopment efforts at Charity Hospital, it will then move into a mixed-use complex spanning nearly 350,000 square feet. Leading this bold initiative will be Kimberly Gramm. A South Florida native, Gramm has more than 14 years of early-stage technology venture development experience in Texas and Florida that has included founding two university accelerators — Florida Atlantic University’s Tech Runway and the Texas Tech University Accelerator. Her work has helped launch more than 279 startups and attracted more than $470 million in investment capital. “I believe in education and knowledge as a driver for innovation and startup creation,” said Gramm, “and what better place to do that than a university?... This is part of a larger initiative to create opportunity and generational wealth for all the citizens of New Orleans and Louisiana, not just Tulane students and faculty. It’s going to be truly transformative.” JULY 2022

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Heather Hodges

Director of Internal and External Relations The Historic New Orleans Collection

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S ANNALISA KELLY DIRECTOR OF STRATEGIC INITIATIVES AND POLICY

JULY 2022

As director of strategic initia-

tives and policy for the Jefferson Economic Development Commission (JEDCO) Annalisa Kelly plays an integral role in many of the organization’s most impactful projects. Just a few of her recent contributions have included: leading the effort to secure a $600,000 grant from the U.S. Environmental Protection Agency to revitalize potential Brownfield sites on the West Bank; overseeing the development of a study to help encourage zoning changes in Jefferson Parish to attract more local breweries, distilleries and taprooms; and overseeing the development of the Churchill Park Master Plan, a comprehensive vision for 480 acres of publicly and privately owned land in Jefferson Parish. According to Kelly, her role at JEDCO — which was created to fit her skills and passions — combines her longtime love of public service

JEDCO

and passion for working with nonprofits and local government. In addition to serving as JEDCO’s in-house opportunity zone program expert, Kelly led the development of the parish’s “Back to Business” plan, created to help local businesses deal with the effects of the pandemic. “The variety, but also the meaning and the impact behind these JEDCO projects is what really drives me,” said Kelly. “I love working in a sphere where I actually can make an impact and work with partners.” Among Kelly’s current projects is the Seafood Enterprise Assistance Fund, a revolving loan fund for the seafood industry, which represents one out of every 70 jobs in Louisiana. She is also heavily involved in major projects and initiatives to improve public transit for Jefferson Parish residents and enhance access to broadband.

ince its founding in 1966, The Historic New Orleans Collection (THNOC) has focused on preserving the treasures of the city’s culture and past. In looking toward its own future, however, the organization recently created a new position. In December 2021, following a nationwide search, Heather Hodges was named THNOC’s first director of internal and external relations. “We do all of the amazing things we do to shepherd, to document, to preserve the history and culture of New Orleans and that in return, we get to share that with the public at no charge,” said Hodges. “There are a lot of museums in the city, there are a lot in the country, but not many are free and open to the public, and we are working to make sure that people know that we are accessible, inclusive and welcoming.” Hodges’ role puts her at the helm of a new division at THNOC that includes both the marketing and communications department, as well as development. “I spend a lot of time thinking about how we communicate to the world who we are, what we do, how we want to be a service to the broader community,” said Hodges. “Core to our work is the idea that our founders wanted to be a free and public resource for not just storing the history and culture and morals of the gulf region but for making them available to the community.” In addition to forming collaborative research initiatives with area museums, Hodges is currently working with museum leaders on two international exhibitions set to open this fall.

CHILDREN’S HOSPITAL NEW ORLEANS BI Z N E WO RL E AN S.COM

PHYSICIAN-IN-CHIEF/ CHIEF MEDICAL OFFICER

news last summer when the Delta variant of COVID-19 was hitting hard, you likely caught at least a few interviews with Dr. Mark Kline. An infectious disease specialist by training, Kline jumped into the role of chief medical officer at Children’s Hospital New Orleans last July and quickly became a go-to source for both local and national media including NBC, CNN and CBS. Given his background, it’s not hard to see why. In the early years of the HIV pandemic, Kline discovered a passion for caring for children affected by the deadly virus. In the years that followed, the Texas native helped develop several of the drugs that became standard treatment for children with HIV around the world. He then went on to create the largest network of pediatric treatment centers for HIV in the world — now numbering at over 400,000. As a result of his work, Kline was nominated for the Nobel Peace Prize in 2019. What’s next for the man who transformed the way the world treats HIV in children? According to Kline, it’s transforming the way Louisiana cares for children and families. “We’re building a program here like this state has never seen,” said Kline, who is also a member of the faculty at both LSU and Tulane medical schools. “The goal is to have everyone perfectly aligned to improve the health and well-being of children and families across Louisiana, and Children’s can be the catalyst to do this. “I feel like this is our time,” he added. “We’re on a trajectory to be one of the best children’s hospitals anywhere.”

DR. MARK KLINE

IF YOU WERE WATCHING the

GEM

COMING TO LIGHT

BY KEITH T WITCHELL PHOTOS BY CHERYL GERBER 42

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When the tolls for the Crescent City Connection stopped in 2013, Gretna flourished — and things have only gotten better since.

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From an influx of new restaurants and stores to a flurry of major public works projects, to a growing number of markets, festivals and other events, the city of Gretna is flourishing in a way that few area municipalities can match. “With its proximity to the airport

and the city of New Orleans, its walkability and quality of life, Gretna is uniquely suited for success,” observed Jerry Bologna, president and CEO of the Jefferson Economic Development Corporation (JEDCO). “And the business climate in Gretna is outstanding.” “Gretna is small-town America,” stated Gretna’s mayor, Brenda Constant. “It’s a place where people feel included, accepted, part of a vibrant community.” For the geographically challenged, Gretna is on the west bank of the Mississippi River, nestled between Algiers and Harvey, and backed up by Terrytown. At about 4 1/2 square miles, it is home to roughly 18,000 residents.

M MARKET FACTORS: As is true for so much of the greater New Orleans area, Hurricane Katrina had a huge impact on Gretna, although like most of the Westbank, the city did not sustain significant damage. Coincidentally, Constant had been sworn in as Gretna’s first female councilmember on July 1, 2005. She took office with several ideas on how to start revitalizing her district, which included the historic downtown area; one of those was creating a weekly farmer’s market.

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DID YOU KNOW? Gretna is currently home to a large Zatarain’s facility, along with Creative Film Connections, a major supplier of furniture and props to local movie and television productions, and a growing environmental services sector.

“We planned to open the market in March 2006,” she recounted. “Instead, we started on October 17, 2005. We had 2,000 people come the first day.” Not only were New Orleans residents still struggling to find fresh food at that point, area vendors were desperate for venues to sell their products. The success of the farmer’s market led to acceleration of a planned arts market, which opened in December 2005, just in time for Christmas shopping. Both markets are still thriving today, the farmer’s market every Saturday morning and the arts market on a monthly basis. Constant said these markets were so critical that they were responsible for the city’s transformation. “People came who didn’t even know Gretna existed,” she said. However, this did not solve the issue of a complete absence of nighttime activity. “You could roll a bowling ball from one end of Huey P. Long Avenue to the other after 4 p.m. and not hit anything,” recalled Betty Archote, co-owner of several Gretna restaurants, referring to the city’s main downtown artery. “We needed an anchor at night,” Constant said, and she prevailed on Archote and her husband to open their first restaurant, Thanh Thanh, right across from Gretna City Hall. “We knew that during the day, that area was a busy, happening place. We really fell in love with the neighborhood,” Archote recounted. “We knew we had to create a following, but we saw it as a diamond in the rough, so we took the chance.” Constant encouraged her colleagues in city government to support some evening events, and the restaurant began building a dinner clientele. Success, of course, breeds success, and other dining and drinking establishments began to follow. The result, Archote reported, is that now nighttime is busier for the restaurant than daytime. This soon spread out to other types of businesses. “In the retail market, when businesses are successful, it sends a signal to other retailers that it is a desirable and profitable market,” noted JEDCO’s Bologna. The economic development organization has played its own important role in the recent growth, funding loans for Gretna businesses and helping them to access valuable tax incentives.

BIZ NEW ORLEANS JULY 2022

B BARRIERS COMING DOWN: While the mix of government actions and private investment was driving substantial resurgence in Gretna, the final major contributing factor occurred in 2013, when voters eliminated the tolls on the Crescent City Connection. This removed the final barrier to commerce and cross-river exploration. 2013 was also when Constant — who seems to have a very good sense of timing — was inaugurated as Gretna’s first female mayor. “Once the tolls came off the bridge, business

“

Community participation is critical. People feel like they need to have a voice. So many things we do are volunteer-driven, like the markets and the Gretna Heritage Festival. You have to respect the people that make the city what it is. Brenda Constant, Mayor of Gretna

DID YOU KNOW? Gretna was the home of baseball great Mel Ott of the New York Giants (after whom another large city park is named) and legendary entertainer Frankie Ford, of “Sea Cruise” fame, among other notables.

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in Gretna exploded,” she recalled. “We saw a lot of people coming over from the Warehouse District, the Garden District. It’s easier to access Gretna from those areas than to go to Metairie.” At the same time, external forces — particularly the effects of climate change — began to increase their impacts. “We needed to address factors of sustainability and resiliency,” Constant said, “living with water and hurricanes and coastal erosion and subsidence. All those negatives are not just rhetoric.” The solution was a new focus on formal planning processes. “We completed our first comprehensive plan in 2018,” said Amelia Pellegrin, director of planning and city development for Gretna. “This was followed by overhauling our development code in 2019.” The resulting Unified Development Code addresses everything from historic districts to stormwater management. “It’s intended to streamline the development process, to put all the ordinances in one place,” Pellegrin explained. “And we are constantly updating it. For example, we just added a section governing charging stations for electric vehicles.”

TOP Huey P’s Pizza and Healthy Course Meals BOTTOM Banana Blossom

MONEY WELL SPENT: One important aspect stressed by both Constant and Pellegrin was the role of community participation in the planning processes. “Community participation is critical,” Constant stated. “People feel like they need to have a voice. So many things we do are volunteer-driven, like the markets and the Gretna Heritage Festival. You have to respect the people that make the city what it is.” Thus far, the plans have produced outstanding results. One key project is the revitalization of Gretna City Park. Located on the far side of the expressway, away from the river, Pellegrin described the park as “an area that hasn’t seen that much investment for a while.” The updates range from 18 miles of walking trails to a kayak launch, a pavilion and a fishing pier.

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LEFT Fleurty Girl MIDDLE Computrols RIGHT Amore Bakery

Just as important, in an area surrounding a number of repetitive flood loss properties, the park’s new design enables the facility to store a lot more water during and after heavy rainfalls. Stormwater management was also a key focus during the renovation of the main square in front of City Hall; newly installed underground tanks can capture and hold 35 swimming pools’ worth of water. This emphasis on green infrastructure firmly establishes Gretna as the regional leader in this vitally important field. Another investment Constant made soon after taking office has also paid off well. “I tripled our landscaping budget,” she recalled. “Just like if you go on a job interview, you want

Made in Mechanikham A look at Gretna’s surprising roots

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DID YOU KNOW? Gretna boasts the longest active volunteer fire company in the world — 175 years old and counting.

to look your best, if you want to sell your city, you need it to look good when people drive in.” Subsequently, Gretna has won the state’s “Cleanest City” award in its size category for the last two years. Of course, all these investments require funds, and Constant acknowledged that “we have a high millage base, but people feel they are getting their money’s worth. People engage with government, and people trust government in our city.” “People feel like they are getting something in return for their taxes,” echoed Archote, the restaurant owner. “Gretna has always given that message, that the safety and well-being of its citizens is paramount.”

1836

1838

Gretna traces its origins back to when land along the river owned by Nicholas Destrehan was divided into smaller lots. Originally given the catchy name Mechanikham, its first settlers were largely of German descent.

The St. Mary’s Market Steam Ferry Company purchased land immediately downriver from the settlement. The streets of the new development were aligned with those of Mechanikham, and the community of Gretna was established – and that same street layout still exists today. Ferry service between the east and west banks was launched at about that time, creating a vital link between communities on either side of the river.

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“It turned out to be great, everyone has been so nice and accommodating,” Benson said. “The price of the building was about one-third of what it would have cost in New Orleans, and we also got some tax incentives. I’m excited about it — I think Gretna is going to be great for us.”

M THE LAST FRONTIER: Looking ahead, both Constant and Pellegrin cited a better connection with the Mississippi River as priorities. Said Pellegrin, “The last frontier for Gretna is development along the river. There’s a whole lot more opportunity to draw on that as resources and amenities for residents and businesses.” Constant is looking to upgrade the Gretna ferry terminal and attract river cruise lines to use it as their main point of embarkation. She would also like to restore the historic ferry service from New Orleans, and generally improve transit connecting the two sides of the river. All involved see an even brighter future ahead. “The city is perfectly positioned for continued growth,” said Bologna. “All the pieces of the puzzle are in place.” “It just seems like it’s getting better and better,” concurred Archote. “I hear people say, ‘I would never live on the Westbank, but I would live here.’” “I want this to be a place where people want to be, a city of choice,” echoed Constant. “I want people to see this as the best place in the world to live.” T

It doesn’t hurt that spending by the city has successfully induced the business community to follow suit. “There is a lot more interest and investment from the private sector in downtown Gretna now,” said Pellegrin. “Half a dozen vacant properties are being reopened, and a lot of new projects are going through the permitting process right now.” The redevelopment includes historic residential areas in the older part of the city as well as commercial properties. The result, said Pellegrin is that “property values are higher than they’ve ever been in Gretna.” She also noted that “any built city only has so much property we can work with, so these new

projects are infill development. This is leading to more opportunities for growth outside the core downtown area. We have several other stretches that are ripe for commercial and mixed-use development, a wealth of older properties that could use some love and affection.” One example of this aspect is the recent opening of Toast, a popular New Orleans restaurant small chain that opened its fourth location, and first outside the city proper, in Gretna but away from downtown. Owner Cara Benson was not originally looking in the area, but she found a location that accommodated her need for a commissary to bake breads for all her locations as well as a restaurant site.

1884

1913

1958

Gretna becomes the seat of Jefferson Parish government, which still provides a reliable economic base that Mayor Constant noted was critical to the city’s survival after the oil bust of the 1980s. “People were invited by subpoena to see Gretna,” she pointed out. “They had to come here for jury duty and parish business. But it was a blessing and a curse, because everyone left at 4 p.m. on Friday.”

McDonoghville became part of Gretna and the city was formally incorporated. Additional land was absorbed by the city as nearby plantations were subdivided, ultimately creating the boundaries that define the present-day municipality.

The Mississippi River bridge opened and vastly improved access to and from New Orleans. This was followed by the extension of the Westbank Expressway, which further improved access but also cut Gretna in half and destroyed some of its residential areas.

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FROM THE LENS

WHY DIDN’T I THINK OF THAT? 54 GREAT WORKSPACES

The newly remodeled JEDCO Finance Center provides a modern setting for collaboration and growth.

64 NEW ORLEANS 500

Justin Hartenstein, Founder of Oracle Lighting

This local entrepreneur has turned a hobby of building electric bikes into a passion to teach others the benefits of giving up gas.

JEDCO FINANCE CENTER 700 Churchill Parkway Avondale // jedco.org // Facebook: facebook.com/ JeffersonParishEconomicDevelopment

FROM THE LENS GREAT WORKSPACES

FORWARD THINKING The newly remodeled JEDCO Finance Center provides a modern setting for collaboration and growth. BY MELANIE WARNER SPENCER

PH OTOS BY SARA ESSEX BRADLEY

or 35 years, the economic development agency JEDCO has served Jefferson Parish’s business community. Originally, its finance center at 700 Churchill Pa r k w ay i n Av o n d a l e w a s designed for the organization’s staff, but with a remodel this year, the focus has grown to include clientele. To achieve its vision, the leadership at JEDCO worked with AOS Interior Environments. The modern space is open, with an emphasis on function and with collaboration at the heart of the design.

Biz New Orleans: How would you describe JEDCO Finance Center and its core clientele?

Scott Rojas: It is a modern yet timeless space to allow for creative thinking. While the facility was originally designed with staff as its focus, it

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“

”

JEDCO cultivates an environment in which the team really feels like a family, and they work together as such. Scott Rojas, director of facilities and information technology

has also become a big draw for JEDCO’s clientele. The Finance Center is very welcoming and open, which is helpful for the many small business owners and entrepreneurs who visit the facility to seek financing from JEDCO.

With a remodel this year, JEDCO Finance Center’s focus has grown to include not only employees, but also clientele. To achieve its vision, JEDCO leadership worked with AOS Interior Environments. The modern space is open, with an emphasis on function and collaboration at the heart of the design.

What were your goals for the design?

Jerry Bologna: One of the goals of the space was to create a collaborative environment for the JEDCO staff. Rojas: We also wanted to design a functional modern space that is inviting to staff and guests. What was the biggest design challenge?

Rojas: The largest challenge was our budget, and we were able to overcome it by repurposing the Dirtt walls. The space used to have 10 small cubicle-like offices in the center of the building with walkways on the outside. We took down the Dirtt walls and reinstalled them along the outside windows to create an open, collaborative environment. The new offices along the outside walls are larger and much more functional. What is the standout feature of the design?

Rojas: The public area is the central hub of the space. We brought in design elements and colors from JEDCO’s logo to ensure that the space felt on brand. Stadium seating and comfortable couches allow staff to hold informal meetings and brainstorming sessions. How do you set yourselves apart from organizations doing similar work?

Rojas: JEDCO cultivates an environment in which the team really feels like a family, and they work together as such. Bologna: As an organization that is dedicated to serving the local business community, customer service is No. 1. This group is dynamic, engaged and service-oriented, which has allowed JEDCO to become a leader in the economic development industry. JEDCO is an internationally accredited, award-winning economic development agency.

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Jennifer Lapeyrouse: One of the finance department’s missions is to serve small minority-owned and woman-owned, -controlled, and -operated businesses. It is wrapped into our mission and our vision for the organization. In 2021, 74% of funded loans went to minority-owned and/or woman-owned businesses. How do you promote a positive work atmosphere for the staff?

Bologna: The JEDCO team is self-motivated and project driven. Leadership creates many opportunities for team building and creative thinking. Lapeyrouse: The JEDCO finance team is driven by the desire to serve. Our ability to provide small business loans can create the financial opportunities for a business to start up, grow, and thrive in Jefferson Parish and across the

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state. The work that we do has serious impacts on the lives of small business owners, and we take that charge very seriously.

QUICK LOOK

What are your biggest challenges?

Bologna: JEDCO’s scope of services continues to expand. As we grow our reach, our impact and our services, we also need to grow the JEDCO team. Maintaining the high level of service that the business community has come to know and appreciate while also augmenting staff will be critical for JEDCO’s continued success. What goals are you looking to meet in the next 12 months?

Bologna: We plan to expand the staff to meet the demands of our current and future Jefferson Parish businesses. T

Date of opening Building opened in 2011, remodeled in 2022 “The largest challenge was our budget, and we were able to overcome it by repurposing the Dirtt walls,” says Scott Rojas, director of facilities and information technology. “The space used to have 10 small, cubicle-like offices in the center of the building with walkways on the outside. We took down the Dirtt walls and reinstalled them along the outside windows to create an open, collaborative environment.”

Square footage 12,899 total/4,369 renovated

Persons in Charge Jerry Bologna, JEDCO president and CEO; Scott Rojas, director of facilities and information technology; Jennifer Lapeyrouse, JEDCO finance director

Architect Matt Rome, AOS Interior Environments Interior Design AOS Interior Environments

Furnishings and Art AOS Interior Environments

ADDITIONAL IMAGES AT BIZNEWORLEANS.COM

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FROM THE LENS WHY DIDN’T I THINK OF THAT?

SHIFTING GEARS This local entrepreneur has turned a hobby building electric bikes into a passion to teach everyone the benefits of giving up gas. BY ASHLEY MCLELLAN PH OTOS BY EDMUND D. FOUNTAIN

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MY NEXT ELECTRIC MyNextElectric.com; Nighshiftbikes.com

att Candler is electric…and he wants to make you electric, too. Candler is the founder of Night Shift Bikes, a streetwise, design-forward electric bike company, and My Next Electric, a live online (and soon in-person) education course and coaching venture designed to help people transform their lifestyles in a greener, more sustainable way.

My Next Electric was born out of another one of Candler’s passions, an at-home garage hobby of building non-traditional (read: not boring) electric bikes. “Night Shift Bikes is about building bikes that earn the respect of anyone who rides or sees them, especially if they’re skeptical of electric. And it’s for sure about having fun. Riding electric is, in the words of ‘The Walking Dead’ star Norman Reedus after riding one of my bikes: ‘The trippiest thing ever. It’s like a magic carpet ride.’” At first, building electric bikes in his garage started as a stress reliever, and a fun DIY hobby, while working to help rebuild schools across New Orleans. “I started building motorcycles as an elaborate scheme to justify buying tools I didn’t need for our new garage — something I didn’t have back in New York,” Matt Candler turned he said. “I had a 1-year-old his passion for creating innovative electric bikes daughter when I started, so into a part-time business, most of the building happened while also building an after she went to bed, so Night online electric energy Shift Bikes it was.” movement and instructive workshop to educate Candle r soon started others on going green. exploring more advanced battery technology. “I found a person in Denver who was parting out battery packs from wrecked Nissan Leaf electric cars,” he said, “so I bought a few of those to see what I could do with them.” Working with car batteries helped Candler and his associates make the leap to creating better, more efficient models of powering vehicles, household appliances, and more. He thought if he could make the leap, then he could probably help others do the same. Thus began My Next Electric. “In 2019, after a year of talking with a friend who was building solar plants in California about the rapidly changing economics of batteries, especially the ones being retired from electric cars, I helped him start a new project using those same Nissan Leaf batteries for something different, storing solar power generated in the morning so people living in California could use it after sunset. That pilot worked; we’re now running the largest used-electric vehicle power plant in the U.S. I’m lucky that what I’ve learned there has led to new opportunities to help other energy-tech entrepreneurs.” My Next Electric is now gaining traction with an ever-growing list of students, and Candler

sees the impacts of electric education as a key to managing challenges both locally and nationally, from hurricanes to rising gas prices. “I’m trying to reach everyone, especially my neighbors and fellow citizens hit hardest by rising gas prices and inflation,” he said. “Every year, electric gets cheaper. Solar is now the cheapest way to make power; costs have dropped 80% over the last decade. Battery costs have dropped even faster. I spend one-tenth the amount on batteries for my motorcycles compared to only seven years ago. While upfront costs remain higher on many electric versions of the things we put gas in now, we’re already past the point where almost everything we can swap – from cars to heat-pumps to water heaters — is cheaper over the lifetime of the machine”. Candler said mass adoption of alternative power sources isn’t about waiting for magic tech. “It’s about financing — aka, getting folks some cash up front so they can buy the electric thing and start saving money on fuel and maintenance and education — aka, behavior change,” he said. “All of us are really comfortable with our gas stuff; it’s hard to quit.” “I coach and invest in an amazing group of education and electrification entrepreneurs. My Next Electric is about helping everybody I can

The idea behind Night Shift Bikes was to turn the idea of an electric bike on its head by using radical design and innovative technology.

PRICIN

Free weekly online sessions.

$1.50 downloadable resource pdf

$15 one-hour intro course $150 one-week intensive course

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make progress toward a more electric life. We do that together by breaking down the big puzzle of electrification into a few very doable decisions over a few years and a few baby steps you can start taking within a matter of days. We offer live online courses, videos, buying guides, and soon, live show-and-tells for folks who want to see electric stuff in real life.”

My Next Electric, like Night Shift Bikes, evolved organically out of Candler’s home office and garage. Students that sign up for the online My Next Electric workshops can learn how to transform their daily lives and reduce their carbon footprint.

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Students who sign up for My Next Electric will find answers to all of those tough questions that come with switching from gas to electric. “I focus on helping people learn the basics of transitioning their personal stuff — vehicles and homes — to electric over time. Most of the resources on this topic are about the individual decisions: How to put solar on your roof? How

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My Next Electric’s goal is to provide an easy way for people to learn how to transform their homes and vehicles using electricity with online sessions, workshops, courses and guidebooks with all the tools you will need to make the switch.

to upgrade to a heat pump? Here’s a review of a fancy electric car. Very few places create a safe space to ask the big, hairy question about going electric in the first place. Why should I do it? How, and more critically when will it save me money? And some of the harder-to-ask-out-loud questions like: Why is induction any good if all my chef friends say gas is the best for cooking? How will I be able to charge my car? Heat pumps matter. So does solar. And we get people there, eventually. We just don’t start there. We start with the fun stuff, like electric e-bikes, portable induction stoves and portable battery packs. And we let people experience electric without breaking the bank.” Candler and My Next Electric recently launched a new initiative from Together Louisiana called Community Lighthouses, which, according to Candler, “just received a $1 million grant from

Greater New Orleans Foundation, to install solar and storage at local houses of faith and nonprofits to help them save on power bills and provide poststorm support for anyone in New Orleans.” “I feel really lucky to serve as co-chair for the project,” he said. “Our vision includes 85 Community Lighthouses strategically located across New Orleans so that, in a power outage, everyone would be no more than a 15-minute walk away from cool A/C, medical supplies, oxygen, food and electricity to charge their portable devices and stay in touch with friends, family and others. I’m working with a few member congregations to provide my course for free, and I can’t wait to see what we learn together. I hope I can find practical ways to help folks start saving more money and be more prepared to tap into the sun when the power goes out.” T

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LUXURY R E A L E S TAT E

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PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Ace and the Louisiana Open Housing Act, which make it illegal to advertise any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make any such preference, limitation, or discrimination. We will not knowingly accept any advertising for real estate which is in violation of the law. For more information, call the Louisiana Attorney General’s Office at 1-800-273-5718.

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FROM THE LENS NEW ORLEANS 500

DID YOU KNOW? Hartenstein started his business in his parents’ garage in 1999 when he was 17 years old. Experimenting with LEDs and electronics, he developed unique lighting solutions for automotive applications. From humble beginnings, his company has grown to employ more than 30 fulltime team members and is considered a leader in the industry.

What do you love about your job? As a Tier-1 supplier to many OEMs (original equipment manufacturers), my team works with other designers on special projects, concept cars and other very cuttingedge developments ... As an automotive enthusiast myself, these types of innovative projects are what get me excited. I also find that working alongside other teams is a way I can draw inspiration from these very ambitious designs and turn around and redirect that inspiration flow into our own product development.

Justin Hartenstein Founder of Oracle Lighting 64

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What’s something exciting on the horizon for your company/organization? Something that is quickly evolving in the automotive industry is the EV market. We see many opportunities for our products in this emerging market and are excited by the level of innovation, engineering and unique design for future EV vehicles. What’s the best advice you received? Life is a series of natural and spontaneous changes. Let things flow naturally forward in whatever way they like.

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