Press Release

Commerce Secretary Highlights Role of Business in New Orleans Recovery

Gutierrez Also Announces $128 Million Award; Safety of Gulf Seafood

NEW ORLEANS—U.S. Commerce Secretary Carlos Gutierrez in New Orleans today emphasized the important role of businesses in the economic recovery of the Gulf Coast region.

As the first anniversary of Hurricane Katrina approaches, Gutierrez spoke to area business leaders at Galatoire’s restaurant in the French Quarter. He challenged investors from all over the country and world to invest in the region, create jobs and seize the historic opportunity to rebuild the Gulf Coast, saying the region “may be the best investment opportunity today.” Federal Coordinator for Gulf Coast Rebuilding Don Powell also addressed the group.

“We are here to continue to spread the word that New Orleans and the Gulf Coast are open for business,” said Secretary Gutierrez. “We’re focused on encouraging businesses to invest and create more jobs here. Together, individuals and businesses working with government will restore the Gulf Coast, and the great city of New Orleans will come back stronger than ever.”

In his speech, Gutierrez made two announcements about Commerce Department efforts to assist the Gulf Coast region in its recovery. First, he noted that the Department’s National Oceanic and Atmospheric Administration (NOAA) has awarded $128 million to the Gulf states to help rebuild oysterbeds and conduct fisheries monitoring.

“I want to thank Senators Thad Cochran and Richard Shelby for their leadership to secure these funds to help in the recovery of Gulf fisheries,” said Gutierrez. “Commercial oyster and shrimp operations in the Gulf of Mexico are vital economic components in the region and I am pleased NOAA is able to play a significant role in their recovery.”

Second, he announced that NOAA’s latest survey of possible seafood contamination in the Gulf of Mexico once again showed that Gulf seafood is safe to eat. This is positive news for the Gulf Coast fishing industry, which represents one-fifth of the nation’s commercial fishery production. NOAA has been sampling water, sediment, and marine life since two weeks after Hurricane Katrina to check for any contaminants that might have been introduced when floodwaters were pumped from the streets of New Orleans.

Later in the day, Gutierrez and Powell attended a “board cutting” re-opening ceremony for a Home Depot store in Chalmette with Home Depot CEO Bob Nardelli. This store was submerged under 13 feet of water for more than three weeks after Hurricane Katrina. Home Depot was one of the participants in a Gulf Coast business development mission Gutierrez and Powell hosted earlier this year with more than thirty companies.

“This store is fully stocked with the tools and materials needed to rebuild the Gulf Coast, and will be a neighborhood center for hammers, nails, and other essential building materials,” said Gutierrez.

“Rebuilding the Gulf Coast will require more than taxpayer dollars. As we’ve seen, the Gulf Coast will be revitalized by businesses small and large – men and women with the entrepreneurial spirit to accept the challenges and to invest, add value, create jobs, and serve as the new foundations for communities along the Gulf Coast,” said Gutierrez. “The President understands this, and that’s why a central part of the recovery strategy includes powerful federal tax incentives for investing in this region.”

Throughout his visit, Gutierrez applauded the tireless efforts of the New Orleans business community and government agencies to restore the region. “New Orleans truly has an abundance of natural assets, combined with a special spirit,” he said.