Top 10 Reasons to move to New Orleans

  1. Tax Incentives for your company – Tax incentives are shifting as Louisiana tries to balance its budget, so you should check GNO Inc. to get the latest. I’ve listed a few incentives below:
    • Technology Commercialization Credit and Jobs Program Provides a 28.8% refundable tax credit for companies that invest in the commercialization of Louisiana technology and a 4.32% payroll rebate for the creation of new, direct jobs. Learn More
    • Restoration Tax AbatementA 100% property tax abatement for up to 10 years for the rehabilitation of an existing structure. Learn More »
    • Quality Jobs Up to a 6% rebate on annual payroll expenses for up to 10 years and either a 4% sales/use tax rebate on capital expenses or a 1.5% investment tax credit for qualifying expenses. Learn More »
    • Industrial Tax Exemption Provides a 100% property tax abatement for up to 10 years on materials used in new manufacturing. Learn More »
    • Enterprise Zone Provides either a one-time $3,500 or $1,000 tax credit for each certified net new job created; and either a 4% sales/use tax rebate on capital expenditures or a 1.5% refundable investment tax credit on the total capital investment, excluding tax exempted items. Learn More »
    • Angel Investor Tax Credit Provides a 25.2% tax credit for individual investors who invest in early stage, wealth-creating businesses. Learn More »

     

  2. The Food – This is a Foodie’s Paradise. There are endless restaurants, not to mention all the food festivals throughout the year. My favorite is the Oak Street Poboy Festival. Here is a list of first-rate restaurants, most of which I have tried and attest to. I am a big fan of Nina Compton’s (from Top Chef) restaurant, Compere Lapin.
  3. The Music and Art – So I have to combine these two, but each really deserves its own number. Music Festivals are so awesome and most all of them are free! From French Quarter Fest to live music on the streets or the random second line you might catch on any given day. There are also art festivals and so many art galleries all over the city not to mention the street artists all over the Quarter. The talent here is crazy!
  4. The Parades – Every year, like clockwork, this city does Mardi Gras like no other. There are parties, balls, and family music events. And just when you think the parades are over and Lent has started, St. Patrick’s Day parades roll!
  5. The Beauty – There are some absolutely gorgeous places here, from historic homes with architectural beauty to the natural outdoors and parks. New Orleans has 20 nationally registered historic districts, which is more than any other city in the United States. If you haven’t already, check out the Audubon Zoo, Audubon Park, City Park, and Lafreniere (in Metairie) Park.
  6. The Weather – While some might disagree with this point because we have hurricanes and more recently tornados, we don’t have snow or earthquakes! We have spring like weather almost year round. There are a few months during the summer when it is almost unbearably hot. All the better to find a pool and chill out!
  7. The People and the Culture – This one is hard to sum up and explain, but here is a link to a little background. I remember when I first moved back home from living in CA for 15 years, I was pleasantly greeted by strangers every day. I had forgotten my southern roots, where people actually talked and acknowledged one another as they passed on the street or in an elevator.
  8. The Cost – If you are coming from a place like the Bay Area like me, then almost anywhere else is a lower cost of living. In general, the Greater New Orleans Area has a low cost of living. There are a number of free things to do in New Orleans too. Most music and art festivals, parades, not to mention activities for the kids are free or minimal. My kids have had free semi-private swimming lessons and participate in organized sports (soccer, baseball, basketball, track) for only $4 to cover insurance in case of an accident.
  9. The Real Estate – As a real estate professional I would be remiss if I didn’t mention the real estate market here. I lived in San Jose, CA for 15 years before moving back home.  As you might imagine,the home prices are much more reasonable here than in California.  The homes have a wonderful architecture to them which 11-12 foot ceilings, large porches, gas lanterns porch lights, and trim, trundles, columns, floor to cieling windows, etc, the charm is so unique to this area. If you are an investor or want to  get into investment opportunity, it is a lot more attainable here. While there are many all cash buyers here, you can finance a fixer upper that can greatly increase the value of a property. The market here is unlike any other market. You can have a property worth $150k and right next door one renovated home worth $650k. On a personal note, my first RE investment project in New Orleans was a flip in a neighborhood where there are $150k homes before repair and have after repair values between$350k to $800K. Even if you don’t move here for the first 8 reasons on this list, number 9 alone is enough reason to just invest here.
  10. Do you even need more? Well, if you do here is someone else’s list of why we are blessed to live in such a unique state. Some reasons are also on my list but, maybe one of the other ones will speak to you. Perhaps the fishing…

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