Industry News

DOWNTOWN

Sazerac House Signage Goes Up

In advance of its fall 2019 opening, The Sazerac House lit up its new marquee signage on March 6 at what will be its home at 101 Magazine Street (the corner of Canal Street and Magazine Street). Sazerac, one of America’s oldest family-owned, privately-held distillers — with operations in Louisiana, Kentucky, Virginia, Maine, New Hampshire, Maryland, California, United Kingdom, Australia and Canada — is creating The Sazerac House to be part micro-distillery, part interactive cocktail experience, part museum with exhibits featuring the history of cocktail culture in New Orleans and a host for special events.


TOURISM

Another Record-Breaking Year at the Airport

An all-time record of 13,122,762 total passengers traveled through The Louis Armstrong New Orleans International Airport (MSY) in 2018 — 9.3 percent more than the previous record set in 2017. This marks the fourth consecutive year of record-breaking passenger totals and eighth year of continued passenger growth, with an increase of 60 percent since 2010. Overall, the airport saw an average of 159 flights per day — nine more than last year’s average. MSY is currently host to 15 airlines and 53 nonstop destinations.  

Freight and mail operations also increased by 12.8 percent in 2018 and international freight increased by 58.5 percent, which the airport says is mostly attributable to transatlantic flights via British Airways and Condor.


New MSY Routes Announced for 2019:

February 2019

Alaska Airlines —new daily departure to Seattle.

Allegiant — added seasonal service to Louisville, MO (SDF), a new destination from MSY.

Vacation Express — began seasonal flights to Montego Bay, Jamaica (MBJ), a new destination from New Orleans.

Spirit Airlines — started seasonal, twice-weekly flights to Philadelphia, PA (PHL).

Delta Air Lines — began nonstop weekend service to Raleigh-Durham, NC (RDU).

May 2019
Spirit Airlines —will begin daily flights to Austin (AUS) and Denver (DEN).

June 2019
Spirit Airlines — launching daily, nonstop service to Raleigh-Durham, NC (RDU).


“As the largest school system in Louisiana and the 98th largest in America, we have a responsibility to invest in our biggest asset — the teachers of Jefferson Parish. Passage of this crucial teacher pay millage will provide the funds necessary to be competitive with surrounding parishes, retain its best educators and recruit top new teachers in Jefferson Parish.”

Todd Murphy, president of the Jefferson Chamber of Commerce, speaking in support of a millage that would increase the average teacher pay in Jefferson Parish Public Schools by $3,360 in base salary with eligibility for additional stipends. Starting pay for teachers in Jefferson Parish currently ranks 8th out of nine parishes in Southeast Louisiana. Jefferson Parish schools now lose four out of every 10 new teachers and three of every 10 veteran teachers. The millage goes before Jefferson Parish voters May 4.


NATIONAL RANKINGS

Biggest Rent Decreases by Percentage in 2018

1. New Orleans
Average rent $1,418
one-year decrease -11.4%

2. Jersey City, NJ
Average rent $2,596
one-year decrease -6.1%

3. Madison, WI
Average rent $1,235
one-year decrease -5.1%

4. Corpus Christi, TX
Average rent $843
one-year decrease -4.4%

5. Portland, OR
Average rent $1,644
one-year decrease -4.4%

6. Houston, TX
Average rent $1,231
one-year decrease -3.7%

7. Nashville, TN
Average rent $1,408
one-year decrease -3.1%

8. Virginia Beach
VA – Average rent $1,092
one-year decrease -2.2%

9. Fort Worth, TX
Average rent $1,056
one-year decrease -1.3%

10. Long Beach, CA
Average rent $2,084
one-year decrease -1.2%

SOURCE: The Apartment Guide 2019 Annual Rent Report


Louisiana Among Lowest Property Taxes in the Country

Property Taxes in Louisiana (1st=Lowest; 25th=Avg.):

•    Real-Estate Property
    Tax Rank: 3rd

•    Vehicle Property
    Tax Rank: 25th

•    Real-Estate Tax
    on Median State
    Home Value: $795

•    Real-Estate Tax on
    Median U.S. Home
    Value: $1,006

•    Vehicle Property Tax on
    Best-Selling Car: $24.33

SOURCE: Wallethub.com


 

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