Region Q2 2023

Greater New Orleans, Inc.

President & CEO

Michael Hecht

Senior Vice President of Business Development

Josh Fleig

Chief of Staff

Rachel Shields

Senior Vice President of Communications

Matt Wolfe

Business Development & Research Manager

Chantilly Benitez

Senior Vice President of Advancement

Sara Bradford

Renaissance Publishing

Editor Drew Hawkins

Art Director Ali Sullivan

Account Director Meggie Schmidt

Digital Director Rosa Balaguer

Senior Production Designer Meghan Rooney

Production Designer Ashley Pemberton

Chief Executive Officer

Todd Matherne

Welcome to the Q2 issue of REGION Magazine!

The Greater New Orleans region is going through a series of changes that are poised to create new job opportunities for its residents and increase economic growth. New companies are making themselves at home in Southeast Louisiana, higher education programs are investing in their students, and business leaders are digging into ways to give back to the community that they call home. As utility providers around the country embark on expansion and modernization projects in their communities, the need for service providers to assist has grown exponentially. Enter United Utility, which recently announced plans to make New Orleans its headquarters location. In this issue, their CEO explains what made this such a good fit for the company’s needs, and why this is great news for our region. Speaking of transformation, while Tulane University has been shaping the minds of students for nearly a century, the school’s latest venture may bring the most impact to date. The school is doubling down on startups through the creation of the Tulane Innovation Institute, which provides support and funding for early-stage ideas through a portfolio of programs to help individuals learn what it takes to build a technology, build a team, launch a startup, and understand what investors need to see to be an investable company. These skills are essential to building the high growth ventures that drive the region’s entrepreneurial ecosystem.

Also in the higher education space, the Louisiana Board of Regents and the Louisiana Community & Technical College

System have increased their focus on delivering high-impact results through innovative industry partnerships and demanddriven curricula. Thanks to a series of innovative industry partnerships and demand-driven curricula, workers coming out of LCTCS schools are exceeding the needs of regional employers because of these high-caliber programs that schools are delivering to students.

Finally, you’ll get to meet two of the region’s rising business leaders – Jimmy Dunn and Jared Freeman. Mr. Dunn is part of the team that is growing First Horizons Bank into one of the region’s top financial institutions, all while balancing a bevy of volunteer roles. Mr. Freeman is the President and CEO of OnPath Credit Union, and is dedicated making a difference in the New Orleans re gion.

These are just some of the companies and individuals driving in the new era of Greater New Orleans, but their stories are vital to share with you all.

MICHAEL HECHT GNO, Inc. President & CEO

RELATIONSHIPS . RELEVANCE. RESULTS .

Greater New Orleans, Inc. (GNO, Inc.) is the economic development nonprofit for the 10-parish region of southeast Louisiana.

GNO, Inc. is built on a simple but broad mission: To create a region with a thriving economy and excellent quality of life for everyone.

The key is GNO, Inc.’s two-pronged approach to economic growth: by focusing on business development, the alliance aims to attract, retain and develop businesses that will employ our future workforce, propelling our economy forward and upward. This initiative is coupled with a concurrent nurturing of the business environment: by proposing, promoting and facilitating policies that improve conditions for business operations, GNO, Inc. ensures that businesses and corporate leaders are

positioned for long-lasting success.

For GNO, Inc., it is not enough to simply serve the community: we must also be a part of it. Real influence and significant change starts from within, and the alliance’s presence in the community is evident and expanding. Working together with the business community, regional stakeholders and all levels of government allows GNO, Inc. to coordinate, consolidate and catalyze action on key issues and opportunities, effectively maximizing job and wealth creation and creating systemic impact.

From workforce development and coastal stabilization to fiscal and criminal justice reform, GNO, Inc. is driven by results. It’s helping to create a robust and growing middle class and, in the process, ensuring our region’s continued prosperity.

10

PARISHES OF SOUTHEAST LOUISIANA

JEFFERSON ORLEANS

PLAQUEMINES

ST. BERNARD

ST. CHARLES

ST. JAMES

ST. JOHN

THE BAPTIST

ST. TAMMANY

Jefferson

Orleans

Plaquemines

St. Bernard

St. Charles

St. James

St. John the Baptist

St. Tammany

Tangipahoa

Washington

STAKEHOLDERS

Our Investors

Parish Government Colleges/ Universities

Legislators

Business Community

Nonprofits

Influencers

TANGIPAHOA

WASHINGTON

Greater New Orleans

BY THE NUMBERS Q2 2023

An economic snapshot of Greater New Orleans’ 10-parish market

EMPLOYMENT & ECONOMY STATISTICS

POPULATION

1,439,008

31% of Louisiana’s population resides in Greater New Orleans

SOURCE: LIGHTCAST, 2022

EMPLOYMENT STATISTICS

$62,420

Metro Average Annual Wages

SOURCE:

ECONOMY

50,668 Private Establishments

SOURCE: BUREAU OF LABOR STATISTICS, NOT SEASONALLY ADJUSTED, Q4 2022

672,784 Civilian Labor Force

SOURCE: LIGHTCAST 2023.1

HEALTH SCIENCES

JOBS

81,370

AVERAGE SALARY $68,557

GDP $8.12B

SOURCE: LIGHTCAST 2023.1

47,763 Unique Job Postings

SOURCE: LIGHTCAST, 2023.1 DATA

3.62% Regional Unemployment

SOURCE: LIGHTCAST 2023.1

FAST FACTS: TRANSPORTATION & TRADE

RECENT ANNOUNCEMENTS

New Fighter Jets in Belle Chasse

The Louisiana Air National Guard will receive 18 F-15EX Eagle IIs to continue their mission of protecting and defending the Gulf South region of the United States, as they have for decades.

$4.6B Reduced-Carbon Ammonia Facility Proposed in St. Rose

St. Charles Clean Fuels, a development company jointly owned by strategic energy investment company Copenhagen Infrastructure Partners and Sustainable Fuels Group, is exploring the feasibility of building a $4.6 billion ammonia production and export facility in St. Charles Parish.

New Business Park Unveiled in St. Tammany Parish

The Gulf South Commerce Park has been unviled as a major asset for St. Tammany Parish, the Greater New Orleans Region, and the State of Louisiana. The 919-acre site is centered around the Advanced Manufacturing and Logistics industries (AML) is poised for job creation and business expansion within St. Tammany Parish’s footprint.

T. Parker Host Relocates HQ to JP

During its 100th Anniversary Celebration, shipping titan T. Parker Host announced its plans to relocate its headquarters to Jefferson Parish. In Louisiana alone, Host employs more than 300 residents and supports more than $22 million in direct employee payroll.

Utility Services Provider Establishes Headquarters in New Orleans

United Utility Services, a portfolio company of Baton Rouge-based Bernhard Capital Partners, announced it is establishing its national headquarters in New Orleans. The firm, a leading utility services provider, looks to build upon the growing impact that BCP and its companies, including Lemoine and Epic Piping, have had on the state’s economy and infrastructure.

TRADE $14.8B

Value of Exports from the New Orleans Metro Area #4 Largest U.S. metro measured by value of exports

SOURCE: U.S. CENSUS BUREAU; U.S. EXPORTS BY METROPOLITAN AREA, Q1 2023

COST OF LIVING & REAL ESTATE

OVERALL COST OF LIVING

GNO Region: 99.5

U.S. Average: 100

SOURCE: LIGHTCAST

REAL ESTATE OFFICE

Local Vacancy: 6.6%

National Vacancy: 13.1%

Local Rent: $21.47/ft2

National Rent: $35.19/ft2

Local Inventory: 54.4M ft2

INDUSTRIAL

Local Vacancy: 2.1%

National Vacancy: 4.3%

Local Rent: $9.67/ft2

National Rent: $11.60/ft2

Local Inventory: 82.4M ft2

SOURCE: COSTAR

RANKINGS

RECENT RANKINGS

Louisiana #1 state goods exports to GDP 2022

New Orleans #3 in where American most desire to visit

Top 10 cities with Largest Share of Teen Hires –Gusto

GNO, Inc.’s mission is to create a Greater New Orleans with a thriving economy and an excellent quality of life, for everyone. For more information about the market, or help with your business, please contact our Research and Business Development team:

Chantilly Benitez Business Development & Research Manager hcrabtree@gnoinc.org

Josh Fleig Vice President of Business Development jfleig@gnoinc.org

*Due to data collection methods, previous GNO By the Numbers are not directly comparable

Big Nola Energy

United Utilities elevates New Orleans’ Energy Hub Status with New Headquarters

BY MM KAUFMAN

When Ali Azad, CEO of United Utility Services, decided to expand the company’s foothold — which was already strong on the East coast — for a national reach, all of the arrows pointed to the Big Easy. “It was a great central location for us to be—to have access to potential partners, customers, and access to a good workforce that is focused on energy,” Azad said.

The new headquarters — located within the First Bank and Trust Tower on Poydras Street — puts United close to their parent company, Bernhard Capital Partners, as well as a number of sister companies in the BCP portfolio. The proximity to so many important relationships, both established and potential, made New Orleans the perfect location to expand their presence in the energy business.

The greatest pull to New Orleans for a new headquarters was the city’s established status as an energy hub. United was looking for access to energy professionals already hard at work to provide them with the opportunity to access key positions for new professional positions as they expand. And United’s largest customer, Entergy, is already headquartered in New Orleans.

Josh Flieg, Vice President of Business Development at Greater New Orleans Inc., agrees that one of the biggest benefits for United Utility is entering New Orleans’ legacy as a knowledge base for all things energy. The city has long been the headquarters for major utility companies like Entergy, as well as everyone connected with energy distribution transmission across the Gulf South.

“[New Orleans has] a legacy of operating and managing those businesses here, and all of the talent is connected to running world-class, large, publicly-traded, and even privately held, utility companies,” Flieg said. “Utility maintenance, regulation, management, everything connected to owning and operating world-class utility operations can be done here and has been done here for decades.”

While United Utility will benefit from its new headquarters in New Orleans, what will the city and outlying areas receive in return?

The first and biggest promise is increasing the workforce. The move is expected to create up to 141 new direct jobs over the next five years with nearly $13 million in total annual payroll. United

also wants to grow local talent, offering further specialization in certain fields, thus creating a greater tax base.

Initially, the company is focusing on increasing the professional skill set and developing of engineers and project managers. As the work continues to grow, especially with the help of partner company Entergy, United will increase the number of employees working in the field. The plan is to expand the professional workforce within the local population by finding talent in technical college and high school graduates and training people in the field with the existing workforce.

Josh Flieg is excited not only that the new headquarters create high-paying jobs, but also that the nexus for decision making within the large company will be in New Orleans. There is a natural bias to make decisions that will positively impact the local region first. “Having those decisions made in which dollars are spent from New Orleans generally means good things for further investment and further job growth in our region,” Flieg said.

Ali Azad agrees that New Orleans is positioned to become a major energy hub in the coming years for several reasons. The city and state have historically been an energy hub, but this business is about infrastructure, and power grid development is the nexus between the East and West with a lot of energy and power transmission between Texas and the East coast.

Another reason is that Entergy is one of the largest electricity companies in the country with a huge focus on upgrading the massive infrastructure of the electric grid. Working closely with them provides United the opportunity to be part of the grid development in the local area.

Azad believes New Orleans will become even greater energy hub as the energy transition continues to move from a centralized generation to more distributed energy, electric vehicles, as well as renewable energy and connections. “We will be right here, working with our partners developing that infrastructure for the energy of tomorrow,” Azad said. “And that’s one of the big reasons that we thought the New Orleans area would be a great base for the launch pad toward energy transition future.”

United Utilities is one of the fastest growing companies in Bernhard Capital Partner’s portfolio. Azad said this is one reason they’ve been afforded this massive expedition by local state and federal government to upgrade the power grid infrastructure. The new cen-

tral location also puts United closer on the ground to respond to disastrous weather events and in close contact with several other BCP companies who are involved with disaster recovery services.

Azad cites BCP for the incredibly fast growth of United that will be more and more important as climate change related weather events continue. “When we started approximately five and a half years ago, we had basically nothing but an investment thesis and blueprint. And I was actually employee number one,” Azad said.

Since then, United has grown into a 2,000 person company with nine business unit operations ranging from New York, the southern coast, Miami, the central Gulf Coast region, and west as far as Amarillo, Texas. Azad said this fast-paced growth is thanks to the vision and long-term commitment of BCP to recognize opportunities, talent, and in making a serious commitment to the people they serve.

More and more, climate change related weather events are becoming a serious issue in the New Orleanian’s daily life and United Utility is ready to meet these disastrous events on the ground. Azad expects the region will see more severe and more frequent climate change events: “Our first task really is how do we really help our customers build a more reliable and resilient grid to withstand this incoming climate change event,” Azad said. “So we’re doing that now. And we’re going to do it in a huge way, going forward.”

The company plans to implement practices like under-grounding — putting a lot of the grid infrastructure under the ground is a big part of their operation to withstand the devastation that climate change events can bring.

Along with storm and disaster recovery response, United has other big plans to enter the worldwide energy transition. “This is not just a transition here in the US, it’s a transition across the globe,” Flieg said. “If we can create novel approaches here in New Orleans, the ability for us to grow our local economy by being a leader in that innovation is tremendous —to the tune of trillions of dollars—across Europe, across Asia, across the Americas.”

One such plan is creating a distributed grid, which is the interconnection of renewable energy into the existing grid infrastructure. This comes with smart substations that can take power from a solar system, a solar farm, or community solar system and integrate them into advanced battery technology to provide continuous and reliable power to the community. “These are innovations that, frankly, have just come into picture in the last couple of years,” Azad said. “And we’re going to continue building on this going forward.”

While United Utility is moving to New Orleans for the betterment of the local, and national, population, CEO Ali Azad is hoping for personal enrichment as well. His first trip to the Crescent City was decades ago when he was a young college graduate. His memories are primarily of the French Quarter and Mardi Gras festivities, like many a first-time visitor. This time around, he hopes to dive deeper into New Orleans history and learn about the wonderful traditions of the region’s culture, including exploring a friend’s local fishing camp.

A Brilliant Idea

The Tulane University Innovation Institute

BY KELLY HITE

Tulane University’s Innovation Institute is an accelerator for transforming innovative ideas into thriving businesses. Even before its official launch of new programming scheduled to coincide with the start of the 2023 fall semester, the Innovation Institute assisted cutting edge startups to get their ideas to market.

Kimberly Gramm, Chief Innovation and Entrepreneurship Officer at Tulane University, describes the Innovation Institute as a startup for startups. “It provides support and funding for early-stage ideas, offering a portfolio of programs to help individuals learn what it takes to build a technology, build a team, launch a startup, and understand what investors need to see to be an investable company,” Gramm said.

The Innovation Institute’s mentorship network features entrepreneurs-in-residence, de-risking expertise, and administrative, budgetary, marketing, and branding support.

By providing proof-of-concept and early-stage startup gap funding for promising technologies, the Tulane University Innovation Institute aids aspiring entrepreneurs to commercialize Tulane’s copious research. As the region’s largest federally funded research university, Tulane wields enormous potential to significantly increase its positive impact on the local economy.

THE HEART OF INNOVATION

Gramm said the Innovation Institute serves not only as a catalyst to bring new and diverse technologies to market, but also serves as a magnet for talent and capital in the region.

While it primarily focuses on products and services developed by its students and faculty, the Institute also plans to support the greater south Louisiana community by funding entrepreneurs who have traditionally faced barriers accessing capital, markets and networks essential to growing their businesses. That includes women, who are typically under-represented in business, and those from underserved communities.

With the aim of becoming the leading entrepreneurial hub for the Southeast region, the Innovation Institute is strategically situated at the heart of the budding innovation district and is poised to attract researchers and innovators throughout the Gulf South. The ultimate focus is to create a self-sustaining vibrant innovative ecosystem.

“New Orleans has a creative spirit,” says Jeffrey Silverman, a Tulane alumnus who is one of the founders of the Innovation Institute and Managing Director of Laconia Capital Group based in New York City. “The city has been known for the petrochemical and hospitality industries, yet the market has also made big strides in the biomedical, digital media, and technology sectors according to the Downtown Development District New Orleans. I see the Tulane Innovation Institute helping to continue to fuel that growth and diversify New Orleans revenue.”

SUCCESS STORY – INFORMUTA

Informuta is a shining example of what can happen when innovators receive support from the Innovation Institute.

Conceived by doctoral students Kalen Hall & Leo Williams, Informuta utilizes machine learning models and artificial intelligence to provide nextgeneration diagnostics, tracking, detection, and treatments for antimicrobial resistant infections.

Benefiting from the Innovation Institute’s programs and mentoring, including winning the Innovation Institute’s first Open MIC Pitch Night, its co-founders have transformed Informuta from a glimmer of an idea to a prize-winning commercialization team in less than 9 months poised to become a technology startup.

FUNDING

The Tulane University Innovation Institute was awarded $5 million from the state of Louisiana as part of the U.S. Treasury’s $10 billion State Small Business Credit Initiative (SSBCI). Tulane University matched the award with another $5 million, enabling the Innovation Institute to launch the $10 million seed stage startup fund.

Leveraging several generous gifts from forward-thinking philanthropists and expert investors who recognize its powerful potential, the Innovation Institute provides a catalyst for successful alumni to give back to their university, New Orleans, and the region.

“Tulane’s Green Wave Innovation Network (GWIN) launches this fall with a population of 80 registered mentors with an additional 50 who’ve shown interest

in getting involved with the Innovation Institute,” Gramm said. “These alumni work in Silicon Valley, in New York City, and other entrepreneur hotspots but out of their love for Tulane and their love for New Orleans, they want to give back, to see the region prosper.”

The Priddy Family Foundation and the David and Marion Mussafer Innovation Fund have been major investors. “Throughout my career I’ve loved watching small ventures grow into thriving enterprises,” Robert Priddy said.

Tulane University President Michael Fitts, who has been enthusiastic about the Innovation Institute from the beginning, lauded the backing received from successful alumni, saying, “For Tulane to have the Priddys’ and Mussafers’ generous support represents a resounding endorsement of this ambitious project.”

Gramm said the Institute anticipates having an equity stake in dozens of startups and expects to attract more than $100 million in capital to the region.

WORKING TOGETHER

The Innovation Institute draws a range of people together from across academic disciplines, including from the school of law, business, engineering, architecture, and medicine, to run innovation startup clinics and provide monthly webinars. “We’re bringing down silos,” Silverman says. “The Tulane University Innovation Institute will energize an entrepreneurial culture, creating jobs that benefit the entire community.”

Undergraduate students can also get involved through Tulane’s Academic Service Learning program, a collaborative partnership between the university and the community. Students work with startup founders supported by the Innovation Institute and, in turn, are inspired to adopt an entrepreneurial outlook and foster a sense of the importance of civic engagement.

Tulane will officially launch the Innovation Institute, including announcing who the new Investment Director will be, in July 2023.

In order to attract further interest in the Innovation Institute and have a positive impact on the region, the university will undertake an outreach program to inform other universities, non-government organizations, chambers of commerce, and the wider community about the Innovation Institute’s funding opportunities, programs, eligibility requirements, and options for getting involved.

With the launch of the Innovation Institute programs this coming fall, Tulane University has created a key strategic driver for entrepreneurial endeavors in the region. Its vision of establishing the Innovation Institute as a major focal point for the kind of innovation that puts New Orleans and the region on the global innovation map appears to be coming to fruition.

For Gramm, it's all part of the Innovation Institute’s plan to create “a systemic and persistent output of new startups who are funded here and have the capability to grow by adding local talent and finding the capital they need to make great societal and economic impact.”

For more information on the Innovation Institute visit tulaneventures.com.

I see the Tulane Innovation Institute helping to continue to fuel that growth and diversify New Orleans revenue. ”

Higher Learning

BY MISTY MILIOTO

As the Greater New Orleans economy evolves, the most critical ingredient will be having a skilled and educated workforce in the region. In fact, higher education is the bedrock for strong economic development, providing an environment for industry growth and economic mobility opportunities for the workforce.

To this end, the Louisiana Board of Regents, a state agency focused being a force for talent development through quality, affordable post-secondary education for all, and the Louisiana Community & Technical College System are delivering high-impact results through innovative industry partnerships and demand-driven curricula. As a result, workers are performing at a higher level because of the programs that these schools are delivering to students.

IMPORTANCE OF HIGHER EDUCATION

Dr. Kim Hunter Reed, commissioner of higher education at the Louisiana Board of Regents, believes there are two important roles that higher education plays in economic development: job creation and attracting and retaining businesses. She also added that promoting entrepreneurship, and research that translates into the development of new products and businesses, can draw companies to the state.

“That’s why we’re promoting access to education and the opportunities these credentials can provide,” Reed said. “It is important to recognize the breadth of the offerings encompassed by college today. Yes, our institutions offer traditional degrees that have stood the test of time, and advanced degrees that allow specialization in a field, but they also offer technical diplomas and short-term industry-based

The region’s economy depends on an educated workforce.

Photo provided by River Parishes Community College

certifications that provide practical workforce-focused training.”

In addition to working with business and industry, the Louisiana Board of Regents also collaborates with the governor, the legislature, K-12 and higher education partners, and community leaders. “We set the state’s strategic vision and common goal through our master plan for higher education,” Dr. Reed said.

The master plan, titled “Louisiana Prospers: Driving our Talent Imperative,” calls for 60 percent of all working-age adults (ages 25-64) in Louisiana to hold a degree of high-value credential by 2030. “The plan was informed by my visits to every campus in our state — discussing challenges and opportunities with higher education leadership, students, faculty, business and elected leaders — in rural and urban communities,” Reed said. “We’re committed to innovation, research and support for a strong economy.”

While the plan calls for 60 percent of Louisiana residents to hold a credential of value by 2030, today the state is at about 48 percent. In order to reach its goal, the Louisiana Board of Regents aims to serve more students, while also improving success outcomes for those students.

The Master Plan is more important now than ever as Louisiana continues to struggle with high poverty, low educational attainment, uneven access to higher education, and a need for increased and diverse highwage employment opportunities.

“Having a talent development vision, setting a goal, implementing a plan and measuring results—all of that is important to achieving our intentional goal,” Reed said. “It’s not only about increasing the number of credentials in our state. It’s also about supporting the economic mobility of our people.”

HIGHER EDUCATION MEETS INDUSTRY TO DRIVE PROGRAMMING

In order to meet talent demand, the Louisiana Board of Regents has developed innovative industry partnerships and demand-driven curricula to deliver high-impact results. One example is a partnership between the Louisiana Board of Regents, GNO, Inc., and NASA to address specific skill shortages in

During the 2022-2023 academic year, the four LCTCS colleges in the Greater New Orleans region - Delgado Community College, Northshore Technical Community College, Nunez Community College, and River Parishes Community College - have served approximately 10,000 students through their academic, workforce, and adult education programs.

Delgado Community College is a diverse, dynamic, openadmissions community college providing high-quality education through innovation and excellence in teaching and learning. Operating from six campuses in Greater New Orleans, the school offers a variety of academic and workforce programs through the Associate degree and is committed to nurturing and sustaining an inclusive culture to support student success.

Northshore Technical Community College provides quality workforce training and transfer opportunities by awarding associate degrees, technical diplomas, and certificates to students seeking a competitive edge in today's global economy. With campus locations in Livingston, St. Helena, St. Tammany, Tangipahoa, and Washington Parishes, NTCC is the community college of the Northshore.

the space industry. “NASA needs more aerospace engineers and astrophysicists to design the next generation of space vehicles, but they also need more process technicians, welders and machinists to build the rockets of today and tomorrow,” Reed said. “Using analysis of workforce data, combined with NASA’s specific skill needs, we will be working with our universities and colleges to expand existing degree programs and build new credentials to meet demand in this critical area.”

The Louisiana Board of Regents also launched the Regional Healthcare Innovation program to fund partnerships between healthcare providers and the state’s colleges and universities, designed to increase the number of healthcare workers across the state. And the Louisiana Community and Technical College System (LCTCS) — created in 1999 and a part of the Louisiana Board of Regents — is playing an important role in driving industry-driven programming and partnerships to advance education-to-employment pipelines in the state.

“Our goal is to educate and train Louisiana citizens, and to prepare them to enter the workforce or transfer to a four-year college or university,” said Dr. Chandler LeBoeuf, governmental and public affairs officer at LCTCS. “We believe it is our priority to help solve problems faced by employers, build strong communities, strengthen our state’s economy and create a growing middle class. Our colleges serve more than 150,000 students, graduating more than 30,000 each year.”

The four individual LCTCS schools in the Greater New Orleans region — Delgado Community College, River Parishes Community College, Northshore Technical Community College and Nunez Community College — have several industry driven programs designed to deliver high-impact results. For example, Delgado Community College, Northshore Technical Community College and Nunez Community College offer the Mechatronics Apprenticeship Program, which prepares student apprentices to be fully qualified in multiple aspects of advanced manufacturing technology.

The two-year program (in partnership with GNO, Inc., Laitram, LLC., Zatarain’s and Elmer Chocolate) provides both technical classroom instruction and on-the-job training. “Once assigned to an employer, apprentices earn a paycheck while learning on the job,” LeBoeuf said.

Meanwhile, River Parishes Community College’s PET Plant — designed and built by local industry partners — is used to train the college’s students in industry pro -

grams such as process technology, instrumentation and electrical technology, millwright and welding. Additionally, industry partners can provide new-hire refresher training, continuing education and troubleshooting training at the site.

Other examples include the Nunez Offshore Wind Training Program, in partnership with UNO and Energy Innovation, which prepares the next generation of offshore wind workforce. There’s also the Delgado Allied Health School, in partnership with Ochsner, which meets the demand of the nursing shortage and other in-demand life science and healthcare occupations.

STUDENT SUCCESS & ECONOMIC MOBILITY

While getting students to enroll in colleges and universities across the state is the first step, having those students complete a credential of value is the ultimate goal. The Louisiana Board of Regents has developed a comprehensive approach. Dubbed “Louisiana’s Meauxmentum Approach,” its goal is to increase student success and economic mobility.

“Built on successful evidence-based practices and the latest research from across the country, the momentum approach is a proven framework designed to significantly improve student success and close equity gaps across our state,” Reed said. “In February, we brought together over 300 members of the higher education community at our inaugural Meauxmentum Summit, the first such event in the state’s history. Each of our public undergraduate institutions sent cross-functional leadership teams, including students, to better understand the framework and to hear from others who have successfully implemented this work.”

Reed said they engaged in intensive, campus-specific workshops to design plans to fully implement the Louisiana Meauxmentum Framework by Fall 2024. “We are confident that this collaborative work will create an environment that strengthens success and improves economic mobility for students across all of our colleges and universities,” she said.

LCTCS and colleges in the GNO region play a critical role in not only industry growth, but the growth of students and the communities in which they live. The Meauxmentum Framework is a win for students, employers, and communities. LCTCS is building the structure for continued success that will drive generational wealth.

To this end, LCTCS created the MJ Foster Promise Pro -

gram. Named after former Louisiana Governor Mike J. Foster, the MJ Foster Promise Program is a new $10.5 million annual state fund that will provide financial support for students to earn credentials that align to high-demand jobs in these growing industry sectors. The program is providing the support for students to succeed in healthcare, manufacturing, IT, transportation, and construction industries.

The Louisiana Legislature made a $25 million investment in healthcare training, and LCTCS community and technical colleges have trained over 5,500 individuals to work in healthcare in the last year. And LeBoeuf said the colleges in the region are playing a huge role in making sure the healthcare partners serve a role in solving the workforce’s needs.

The program was created from a need to help industry meet talent demands, but the ultimate goal was to provide a pathway to prosperity in a high-wage, high-demand career. “Healthcare is one of the industry sectors today that continues to have a growing need for a workforce, and our colleges are working hard to educate and train future healthcare workers,” LeBoeuf said.

Josh Tatum, Vice President of Business Growth & Retention at GNO Inc., summed up the role of higher education and workforce development when it comes to growing a strong economy.

“The long-term success of the Greater New Orleans region is predicated on our ability to expand and sustain a skilled workforce available to our region’s growing industry sectors,” Tatum said. “Without continued investments, coordination, and industry-driven models within our higher education and workforce development systems, industry will not be able to have sustainable growth in the region and state.”

Nunez Community College is a student-centered institution that delivers relevant and innovative curriculum integrating the arts, sciences, and humanities leading to academic credentials and workforce opportunities. Located in St. Bernard Parish, Nunez serves a vital role in the community by engaging with partners to support student success and personal growth.

River Parishes Community College is a public community college which was established in the late 1990s, during the creation of the state’s system of community and technical colleges, LCTCS. The school operates four campuses in south Louisiana, functioning as a multi-campus true community college serving all of the communities of the River Region with first class facilities and a full range of services

Jimmy Dunn on Giving Back

How the Senior Vice President and Private Client Group Manager Balances it All

BY KIRSTEN RENEAU

If one was to describe Jimmy Dunn in a word, an easy choice might be: invested. Dunn is invested in his family, in his community, and certainly in his work.

“I enjoy being busy,” Dunn said, “and I love meeting new people.”

For Dunn, it’s always been this way. He credits much of how he got to where he is with his willingness to try new things — and some good luck.

A graduate of Washington & Lee University in Virginia, Dunn was interested in financial services coming out of college, so he joined the global investment firm Cambridge Associates in 2008. This gave him his first look into how the corporate world worked and made him realize he wanted to go back for more.

“Meeting a New Orleans girl — now my wife — made my choice to attend Tulane’s full-time business school a no-brainer when she indicated she was ready to move back home in 2012,” Dunn said. “Tulane’s MBA program offered an Energy Specialization, which opened my eyes to the world of Oil & Gas Investment banking.”

Moving to the city with his now wife, Monique, did more than open up his educational opportunities. It also allowed him to more fully understand “industries, treasures and culture” of the Big Easy.

“While the city certainly has its challenges today, there is truly no place on earth like New Orleans. The people, the food, and all the adventures readily available keep me hooked on the city,” Dunn said.

It’s clear that when Dunn cares about something, he puts all that he can into it. His list of volunteer work is extensive and includes serving on the Tulane Association of Business Alumni, Board of Governors for Junior Achievement of Greater New Orleans, GNO, Inc.’s NextGen Council, and being a member of the New Orleans Regional Leadership Institute Class of 2020.

However, much of his volunteer work starts at home — including as a member of the National World War II Young Benefactors Steering Committee. “My wife’s grandfather, John Laborde, served an incredibly impressive tour in World War II,” Dunn explains. “I also believe that the National World War II Museum is one of New Orleans’ finest assets.”

Calling his interest initially a “selfish” one as he set out to learn more about Laborde’s impact, he then fell in love with the actual facility and countless stories the Museum showcases. As Dunn’s children have grown up, there’s been a shift in focus with his volunteer work.

“I now enjoy coaching and staying active around activities and institutions they enjoy,” Dunn said, pointing out that family is always his number one priority.

“I’m conscious of working for a strong work-life balance and try to spend as much time with my family as possible, while also staying involved in impactful organizations making a difference in our region,” he said. “’Do what you love and

you will never work a day in your life’ might be a phrase that is overused, however I often think of this phrase when deciding what I want to be involved with.”

Of course, his time in New Orleans hasn’t always been smooth sailing. He joined the IBERIA Capital Partners’ Capital Markets team in June of 2014, joking it was “just in time to see the price of oil fall from $130 to $60 in my first 12 months.”

In that time, Dunn was asked to move into risk analytics. He claims he got “lucky again” when a commercial banket left and he was able to adopt their book of business.

“Merging with First Horizon brought a new and unique private banking strategy to our market, so I jumped at the opportunity in May 2021 to lead our local team of private bankers while growing my commercial book of business,” he said.

Dunn certainly stays busy at work still, but for now, he said he’s finally enjoying slightly smoother waters as the turmoil of the past few years has settled down.

The merger with First Horizon began as a chaotic one — announced in 2019, the outbreak of Covid-19 caused a mass of delays. If that wasn’t enough, TD Bank had announced they were acquiring First Horizon only five days after IBERIABANK converted its systems and signage with First Horizon in February of 2022. In May, TD Bank announced it was no longer acquiring First Horizon. After four years of constant change, the company is settling into this next stage.

“I am relieved and excited to showcase how we can deliver for our clients as First Horizon going forward, without the uncertainty and questions that come with a pending acquisition,” Dunn said. “We have a fantastic team in New Orleans and look forward to helping our city grow and improve as your local bankers.”

Always inviting and investing, Dunn added, “Come see us!”

It’s a Wonderful Life

OnPath’s Jared Freeman

BY KELLY HITE

Jared Freeman is one of those people who makes a difference in the New Orleans region. As President and Chief Executive Officer (CEO) of OnPath Federal Credit Union, Freeman is dedicated to helping members achieve their goals — even when times are tough.

“When our members face life’s challenges, or when they are burdened with financial difficulties, we work to find solutions to help,” Freeman said. “Our members are our stakeholders. That’s not just semantics. In the aftermath of Hurricane Ida, for example, we waved all our fees on everything for two months because we thought it was the right thing to do.”

In a single week following Hurricane Ida, OnPath granted $2,000 loans to five thousand members at just one percent interest. “It was a practical approach,” Freeman said. “No matter your income or credit score, if you had a job and deposited your paycheck into your OnPath account, we granted the loan. People needed money to evacuate, to buy generators and gas, and OnPath provided the relief.”

In July 2020, Freeman was named President and CEO of OnPath. And he hit the ground running, leading a major expansion, rebranding, and transformation effort during a time of uncertainty in the Covid-19 pandemic.

Freeman did not waver when challenged to meet OnPath’s ambitious membership and lending targets

while embracing the new brand. He also needed to create a positive member experience at a time when most organizations were still figuring out how to operate in a post-Covid environment. Three years after taking up the challenge, Freeman has seen OnPath become one of the fastest-growing credit unions in the country.

“Three years ago, we did not have a minimum wage. Now OnPath has a $17-dollar minimum wage. Front line officers earn more than $20 dollars per hour as part of our incentive structure,” Freeman said. “This is an investment in our people which has a multiplier impact because it means we can better serve our members. I see a bright future ahead.”

Based in Metairie, OnPath has been operating in the New Orleans area for over 60 years, with branches in Algiers, Covington, Harahan, Harvey, Mandeville, New Orleans (Mid City, Uptown), Slidell, Thibodaux, and Westwego. And the organization has more plans to expand. “We’re working on re-entering the New Orleans East sector,” Freeman said. “We purchased property there last year, and now we are working with city and community officials to establish our presence in this underbanked area.”

Freeman credited his childhood as the motivating factor for his leadership in the credit union industry. “Coming up, I was oftentimes forced to go without things — not because I

acted up as a kid — but because my family couldn’t afford them, and we struggled with finances. For each member who is challenged with making wise financial decisions for their future, I want to be there. I want OnPath to be there”.

Like the character George Bailey in the movie, It’s A Wonderful Life, Freeman’s love for the community impacts how he manages OnPath Federal Credit Union. “When my wife and I moved here, we didn’t know anyone. We’ve all heard about southern hospitality, but in the New Orleans area, you really feel it. It’s full of truly friendly people,” Freeman said. “You might be walking your dog and say hello to your neighbors who are having a crawfish boil and the next thing you know you’re at the table with them.”

Besides volunteering and spending time with their beloved dog, Scout, Freeman and his wife enjoy attending local festivals and events with friends.

Jared Freeman

GNO, Inc. hosted our annual NextGen Council Day at the Capitol where members traveled to Baton Rouge and listened to legislators and experts on topics such as energy sustainability & innovation, LA's entrepreneurial landscape, the future of trade, combating the insurance crisis, and more.

In partnership with Son of a Saint, GNOrocs launched a mentorship program for young men to create a strong pipeline for exploration of STEM career opportunities and to obtain networking, mentorship, and work-based learning experiences to successfully enter a STEM career pathway.

Thanks to the incredible hospitality of Port of New Orleans, GNO, Inc.'s W.I.S.E. Women were treated to a unique tour of the Mississippi River, during which they engaged in discussions about the diverse array of STEM career opportunities available at the port. The W.I.S.E. Women Mentorship offers invaluable mentorship opportunities that effectively expose, engage and inspire young women contemplating STEM careers.

GNO, Inc. hosted our quarterly New Orleans Food and Beverage networking event at Sidecar Patio & Oyster Bar.

GNO, Inc. facilitated our signing ceremony for our 2023 HBCU Innovation Internship. Interns received a program overview and got to meet employers at the New Orleans BioInnovation Center.

GNO, Inc. Director of STEM, Daphine Barnes, served as a panelist at the White House's National Space Forum on diversifying the space workforce. Our goal to address critical talent gaps and cultivate diverse talent pipelines will bring forth a new generation of skilled workers.

At the CleanPower Conference in May, Governor John Bel Edwards, Senator Mary Landrieu, GNO, Inc. President and CEO Michael Hecht, and Natural Allies for a Clean Future met with energy leaders from around the country.

GNO, Inc. and The Department of Corrections hosted a roundtable on leveraging the power of partnership to access untapped talent. This roundtable explored opportunities to connect a highly skilled workforce to meaningful career pathways through re-entry partnerships.

GNO, Inc. attended the River Region Chamber's River Region Workforce Summit which brought together economic development, higher education, workforce development, K-12, and industry partners to coordinate workforce opportunities and understand talent demand for the region. We provided insightful labor market data and led a workforce development ecosystem panel to share all the great work happening in the River Region.

GNO, Inc.‘s Executive Director of Future Energy, Lacy McManus, moderated a conversation on Harnessing the Power of Wind Energy in the Gulf of Mexico during the Cleanpower conference in New Orleans.

GNO, Inc., New Orleans Business Alliance, and LED hosted our annual Game Fête! This highly anticipated event welcomes video game companies from around the globe who are keen on discovering more about the gaming industry in New Orleans & exploring expansion opportunities.

This quarter, GNO, Inc. held our H2theFuture Summit! We gathered all partners and had discussions around the energy evolution in Louisiana, the policy and funding landscape, grants, research development, and workforce development.

Covington-based Netchex, a 20-year-old company that provides online payroll and human resources services to more than 6,400 clients across the U.S., has been acquired by a New York-based private equity firm, GrowthCurve Capital, marking the latest successful purchase of a homegrown tech startup by national investors.

Terms of the deal were not disclosed. But Netchex, which has annual revenues of more than $50 million, will keep its headquarters on the Northshore, where it has been located since friends Will Boudreaux and Stu Ethridge founded the company in 2003. Both Boudreaux and Etheridge, who retained an ownership stake in Netchex, will remain in executive positions with the company. Netchex’s 340 employees, some 200 of whom are based at the Covington office, also will remain in their current positions.

Over the years, Netchex has been supported by LED, St. Tammany Corp., and GNO, Inc., which assisted with recruiting and incentives.

In important destination healthcare news for the entire GNO region, Ochsner Health and The University of Texas MD Anderson Cancer Center have announced a partnership that forms the Ochsner MD Anderson Cancer Center in southeastern Louisiana. The new center gives cancer patients in our region access to treatments that are among the most advanced in the nation, and positions Ochsner to be the first and only provider in Louisiana with a fully integrated cancer program based on MD Anderson’s standards and treatment plans, and one of only seven MD Anderson partners in the country.