JWR Posted November 21, 2005 Share Posted November 21, 2005 Monday, November 21, 2005The 70-story Trump International Hotel & Tower, unveiled just days before Hurricane Katrina slammed into New Orleans, could move forward in a matter of months -- not years -- if incentives supported by city and state economic development leaders are applied. The acceleration of such a project, which had been expected to be delayed by at least 24 months because of the storm, could send a powerful signal that New Orleans is open for business. "The message to the world is that a major project reflects confidence and security for investment," said Michael Olivier, secretary of Louisiana's Department of Economic Development. Developers, lawyers and economic leaders such as Olivier and Don Hutchinson, director of the New Orleans Department of Economic Development, are lobbying Congress to include in the Hurricane Katrina Disaster Relief and Economic Recovery Act two incentives designed to spur area development. "The way I see it, what Congress did for New York is good enough for New Orleans. For this (the Trump tower) to start in six months would send a critical message. It will tell other investors to take a second look," Hutchinson said. http://www.nola.com/news/t-p/frontpage/ind...58594240640.xml Link to comment Share on other sites More sharing options...
Subdude Posted November 21, 2005 Share Posted November 21, 2005 Ultimately the decision as to if they go forward will have to be driven by the economics of the proposal, not by sending "messages to the world" and "powerful signals". It will be interesting to see how this develops. Link to comment Share on other sites More sharing options...
Montrose1100 Posted December 4, 2005 Share Posted December 4, 2005 Ultimately the decision as to if they go forward will have to be driven by the economics of the proposal, not by sending "messages to the world" and "powerful signals". It will be interesting to see how this develops.Exactly, no point in blowing money away for pride. Link to comment Share on other sites More sharing options...
editor Posted December 5, 2005 Share Posted December 5, 2005 While I understand why Trump's people want incentives to build their tower, New Orleans and Louisiana aren't exactly in a position to start giving money away. I think this is a crappy time for any deveoper to go to New Orleans with his hand out. Link to comment Share on other sites More sharing options...
RedScare Posted December 5, 2005 Share Posted December 5, 2005 The latest estimates are that only 16% of New Orleans' pre-hurricane population has returned, roughly 75,000 residents. Huge swaths of housing need to be demolished and rebuilt. If there is any public money available, it should be spent to help the residents and the city recover from a catastrophe that may still wipe out the city. Giving it to a billionaire developer (if indeed Trump is) would send a "powerful signal" all right...that New Orleans is afflicted with the same short-sightedness that afflicted it before the storm.While New Orleans needs all the help it can get, there is already evidence that Washington is getting tight with the purse strings, making it all the more important that what public money becomes available be spent where it brings the most bang for the buck. I suspect that if this tower is feasible with subsidies, it is also feasible without them. Not to pick on Mr. Trump and his Florida investors, but I can think of 462,000 other people who would be better served with those subsidies....and that would send a far more powerful signal that New Orleans is open for business. Link to comment Share on other sites More sharing options...
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