Feasibility of Retail Developments in New Orleans East

New Orleans East is an area with seven times the national population growth rate and an estimated 100,000 people with median household income of $43,000 who are underserved by businesses yet to come back to the area. An opportunity exists for retail businesses to come to the area and this report examines which businesses are in demand. Our analysis shows a current need for furniture stores, supermarkets, lawn and garden stores, sporting goods and clothing stores. This report examines not only the demographics of population, income and age, but also the consumer spending behavior and compares spending in this area to the national average in a variety of categories to determine where spending is higher than normal, called the Market Potential Index. We also conduct a Retail Gap Analysis, where we determine where the gaps are in money spent on goods and services and businesses selling goods and services, and calculate the Leakage Factor showing money spent outside the area which could be spent inside the area, if only businesses were there to provide the goods and services.

Neighborhoods

Neighborhoods

 

 

This analysis shows there is real demand for supermarkets and estimate $111,000,000 is currently spent on food at home, but we also drill down in the data to determine what types of items a supermarket could sell to have a competitive advantage. For example, within a 10 minute drive time, there is $38,000,000 spent on snacks for food at home.  There is little competition for some of these needed industries. Currently there is no sporting goods store or clothing or department store in the area. There are only two Winn-Dixie supermarkets and none along the I-10 corridor where demand is highest.

The area has enjoyed a neighborhood rejuvenation with major developments such as the new Lowe’s on Read Road, a proposed library at Lake Forest, a new Methodist Hospital on Read Road near I-10 which was recently purchased by the City of New Orleans, and the new $40 million dollar Village de Jardin, a 224-unit mixed-use senior housing center near Crowder and I-10. The area is also unique in that it is close to four colleges and universities, an airport, and also major employers like NASA and Lockheed Martin.

History of New Orleans East

Until the late 1800’s, New Orleans East was outside of the city limits of New Orleans, although within Orleans Parish. There was little development other than in two areas. The first area hugged the long, narrow ridge of higher ground along Gentilly Road, which followed the natural levee of an old bayou. Various farms, plantations, and small villages such as Michoud were sited along this ridge. The other older area of development consisted of a linear strip of “camps”, clusters of houses raised high on wooden stilts, in the shallows along the edge of Lake Pontchartrain, the largest and longest-lasting of these being at Little Woods.

In the early 1900’s some residential development of the area began, at first as an extension of Gentilly. Construction of the Industrial Canal began in 1918 and was completed in 1923, creating the principal barrier that would separate the East from the rest of New Orleans. New Orleans East’s present southern boundary was realized in 1944 with the completion of a re-routing of the Intracoastal Waterway, involving the excavation of a new segment stretching east from the Industrial Canal to the Rigolets and cut through the raw swampland south of the Gentilly Ridge and north of Bayou Bienvenue.

The great growth of the East did not occur until after World War II, and particularly commenced during the administration of Mayor Vic Schiro (1961–1970). Many new subdivisions were developed in the 1960’s and 1970’s, to cater to those who preferred a more suburban lifestyle but were open to remaining within the city limits of New Orleans. New Orleans East grew in a comparatively well-planned and neatly zoned fashion. Some care was taken to avoid placing major thoroughfares along the rights-of-way of unsightly drainage canals, as had frequently occurred in suburban Jefferson Parish. Instead, major roads such as Mayo, Crowder, Bundy, Read, and Bullard were located equidistant from parallel canals and were outfitted with landscaped medians, or neutral grounds. Numerous subdivisions were developed with large lakes at their centers, providing both an assist to neighborhood drainage and a scenic backdrop for the backyards of homes. From the late 1960’s onwards, buried utilities were required, lending to new development in the East a pleasingly uncluttered visual appearance quite distinct from the wire-hung stop light signals, tangled webs of power lines, and forests of leaning utility poles common to suburban New Orleans. By 1980, New Orleans East had received significant commercial office and retail investment, epitomized by the regional mall The Plaza at Lake Forest, the largest in Greater New Orleans at the time of its completion.

New Orleans East Geography
New Orleans East Geography

 

New Orleans East is bounded by the Industrial Canal to the West, the Intracoastal Waterway to the South, Bayou Savage Wildlife Preserve to the East and Lake Ponchartrain to the North.

New Orleans East Boundaries

New Orleans East Boundaries

New Orleans East is primarily zip codes 70126, 70117, 70128 and 70129.

St. Bernard Parish borders the area to the South.

New Orleans East Zip Codes

New Orleans East Zip Codes

This analysis focuses on three areas designated by drive times: a 5 minute drive time (blue area), 10 minute drive time (brown area) and 15 minute drive time (green area) from the center of New Orleans East at Read Road and Interstate 10.  Notice the 15 minute drive time almost reaches Slidell to the east and extends west to the French Quarter, Central Business District and Lakeside Mall.

 

Map Drive Times

Map Drive Times

 

Within the 5 minute drive time, the population is estimated to grow from 35,217 in 2010 to 45,824 by 2015. This is seven times the national growth rate. The average household income in 2010 was $43,486.

Drive Time: 5 minutes

   
     

Demographic Summary

2010

2015

Population

35,217

45,824

Total Number of Adults

25,930

33,827

Households

11,851

15,477

Median Household Income

$43,486

$45,717

In addition to the population count, we can drill down in the data to determine how the population spends money, which will help determine what businesses are needed.  We can examine spending behavior, which is demand, and services offered by current businesses, which is supply, and the result is the Retail Gap Analysis, which will show us what businesses are needed because of unfulfilled demand. These data are based upon national propensities to use various products and services, applied to local demographic composition.  Usage data were collected in a nationally representative survey of U.S. households, and forecasts for 2010 and 2015 are prepared by ESRI.

We also calculate the propensity to spend in various categories of consumer behavior within the 5 minute drive time, and the results on the following pages are organized into three columns:

  1. The number of adults in households that spent money in that particular category.
  2. The percent of adults in households that spent money in that particular category.
  3. The Market Potential Index (MPI) measures the relative likelihood of the adults in households in the specified trade area to exhibit certain consumer behavior or purchasing patterns compared to the United States as a whole.  An MPI of 100 represents the U.S. average, and a number higher than this means a higher propensity to spend in that category, compared to the national average.

Product/Consumer   Behavior

# Adults

% Adults

MPI

       
Apparel  (Adults)      
Bought any men’s apparel in   last 12 months

12,323

47.5%

94

Bought any women’s apparel   in last 12 months

11,154

43.0%

94

Bought apparel for child <13 in last 6 months

8,367

32.3%

114

Bought any shoes in last 12   months

13,037

50.3%

96

Bought any costume jewelry   in last 12 months

5,831

22.5%

108

Bought any fine jewelry in   last 12 months

6,888

26.6%

116

Bought a watch in last 12   months

6,134

23.7%

114

       
Automobiles  (Households)      
HH owns/leases any vehicle

9,528

80.4%

92

HH bought new vehicle in   last 12 months

815

6.9%

83

       
Automotive   Aftermarket  (Adults)      
Bought gasoline in last 6   months

21,076

81.3%

94

Bought/changed motor oil in   last 12 months

12,762

49.2%

95

Had tune-up in last 12   months

7,634

29.4%

94

       
Beverages  (Adults)      
Drank bottled water/seltzer   in last 6 months

16,859

65.0%

103

Drank regular cola in last   6 months

15,119

58.3%

112

Drank beer/ale in last 6   months

10,697

41.3%

97

       
Cameras & Film  (Adults)      
Bought any camera in last   12 months

3,988

15.4%

104

Bought film in last 12   months

5,684

21.9%

93

Bought digital camera in   last 12 months

1,716

6.6%

94

Bought memory card for   camera in last 12 months

1,974

7.6%

100

       
Cell Phones/PDAs &   Service (Adults)      
Bought cell/mobile phone/PDA   in last 12 months

7,482

28.9%

98

Avg monthly cell/mobile   phone/PDA bill: $1-$49

5,855

22.6%

87

Avg monthly cell/mobile   phone/PDA bill: $50-99

8,692

33.5%

105

Avg monthly cell/mobile   phone/PDA bill: $100+

4,280

16.5%

108

       
Computers  (Households)      
HH owns a personal computer

7,954

67.1%

93

HH spent <$500 on home   PC

1,139

9.6%

106

HH spent $500-$999 on home   PC

2,051

17.3%

94

HH spent $1000-$1499 on   home PC

1,474

12.4%

84

HH spent $1500-$1999 on   home PC

838

7.1%

85

Spent $2000+ on home PC

719

6.1%

78

Health  (Adults)      
Exercise at home 2+ times   per week

6,973

26.9%

91

Exercise at club 2+ times   per week

2,335

9.0%

78

Visited a doctor in last 12   months

19,688

75.9%

97

Used vitamin/dietary   supplement in last 6 months

11,324

43.7%

92

       
Home  (Households)      
Any home improvement in   last 12 months

3,219

27.2%

87

Used housekeeper/maid/cleaning   service in last 12 months

1,626

13.7%

87

Purchased any HH furnishing   in last 12 months

1,099

9.3%

88

Purchased bedding/bath   goods in last 12 months

6,497

54.8%

100

Purchased cooking/serving   product in last 12 months

2,837

23.9%

88

Bought any kitchen appliance   in last 12 months

1,907

16.1%

91

Insurance  (Adults)      
Currently carry any life   insurance

12,504

48.2%

100

Have   medical/hospital/accident insurance

17,639

68.0%

94

Carry homeowner insurance

12,065

46.5%

88

Carry renter insurance

1,841

7.1%

118

Have auto/other   vehicle insurance

19,925

76.8%

91

Pets  (Households)      
HH owns any pet

4,523

38.2%

80

HH owns any cat

2,125

17.9%

77

HH owns any dog

3,215

27.1%

78

Reading Materials  (Adults)      
Bought book in last 12   months

12,234

47.2%

95

Read any daily newspaper

10,699

41.3%

96

Heavy magazine reader

6,411

24.7%

124

Restaurants (Adults)      
Went to family   restaurant/steak house in last 6 mo

18,588

71.7%

98

Went to family   restaurant/steak house last mo: <2 times

6,546

25.2%

97

Went to family   restaurant/steak house last mo: 2-4 times

6,668

25.7%

94

Went to family   restaurant/steak house last mo: 5+ times

5,379

20.7%

106

Went to fast food/drive-in   restaurant in last 6 mo

23,133

89.2%

99

Went to fast   food/drive-in restaurant <5 times/mo

7,347

28.3%

93

Went to fast   food/drive-in 5-12 times/mo

7,657

29.5%

94

Went to fast   food/drive-in restaurant 13+ times/mo

8,131

31.4%

113

Fast food/drive-in last 6   mo: eat in

8,270

31.9%

83

Fast food/drive-in last 6   mo: home delivery

3,092

11.9%

107

Fast food/drive-in last 6   mo: take-out/drive-thru

13,532

52.2%

100

Fast food/drive-in last 6   mo: take-out/walk-in

6,975

26.9%

110

Telephones &   Service  (Households)      
HH owns in-home cordless   telephone

6,937

58.5%

91

HH average monthly long   distance phone bill: $60+

572

4.8%

110

Product/Consumer   Behavior

# Adults

% Adults

MPI

Convenience Stores  (Adults)      
Shopped at convenience   store in last 6 months

15,257

58.8%

98

Bought cigarettes at   convenience store in last 30 days

4,018

15.5%

105

Bought gas at convenience   store in last 30 days

8,343

32.2%

97

Spent at convenience store   in last 30 days: <$20

2,175

8.4%

86

Spent at convenience store   in last 30 days: $20-39

2,722

10.5%

105

Spent at convenience store   in last 30 days: $40+

8,943

34.5%

98

Entertainment  (Adults)      
Attended movies in last 6   months

15,456

59.6%

102

Went to live theater in   last 12 months

2,950

11.4%

90

Went to a bar/night club in   last 12 months

4,139

16.0%

87

Dined out in   last 12 months

10,169

39.2%

80

Gambled at a casino in last   12 months

3,995

15.4%

96

Visited a theme   park in last 12 months

5,725

22.1%

99

DVDs rented in last 30   days: 1

635

2.4%

92

DVDs rented in   last 30 days: 2

1,089

4.2%

90

DVDs rented in   last 30 days: 3

843

3.3%

105

DVDs rented in   last 30 days: 4

1,037

4.0%

100

DVDs rented in   last 30 days: 5+

3,013

11.6%

88

DVDs purchased in last 30   days: 1

1,255

4.8%

90

DVDs purchased   in last 30 days: 2

1,321

5.1%

97

DVDs purchased   in last 30 days: 3-4

1,564

6.0%

123

DVDs purchased   in last 30 days: 5+

1,834

7.1%

131

Spent on toys/games in last   12 months: <$50

1,626

6.3%

100

Spent on toys/games in last   12 months: $50-$99

657

2.5%

92

Spent on toys/games in last   12 months: $100-$199

1,736

6.7%

94

Spent on toys/games in last   12 months: $200-$499

2,502

9.6%

93

Spent on toys/games in last   12 months: $500+

1,283

4.9%

90

Financial  (Adults)      
Have home mortgage (1st)

3,483

13.4%

74

Used ATM/cash machine in   last 12 months

12,300

47.4%

93

Own any stock

1,852

7.1%

79

Own U.S. savings bond

1,439

5.5%

78

Own shares in mutual fund   (stock)

2,067

8.0%

85

Own shares in mutual fund   (bonds)

1,268

4.9%

85

Used full service brokerage   firm in last 12 months

1,367

5.3%

87

Used discount brokerage   firm in last 12 months

575

2.2%

113

Have 401K   retirement savings

3,695

14.3%

86

Own any credit/debit card   (in own name)

17,371

67.0%

91

Grocery  (Adults)      
Used beef (fresh/frozen) in   last 6 months

17,573

67.8%

98

Used bread in last 6 months

25,134

96.9%

101

Used chicken/turkey (fresh   or frozen) in last 6 months

19,679

75.9%

102

Used fish/seafood (fresh or   frozen) in last 6 months

13,945

53.8%

105

Used fresh fruit/vegetables   in last 6 months

22,089

85.2%

99

Used fresh milk in last 6   months

23,356

90.1%

99

 

Product/Consumer   Behavior

# Adults

% Adults

MPI

 

 

 

 

       
Television & Sound   Equipment  (Households)    
HH owns 1 TV

2,074

17.5%

88

HH owns 2 TVs

2,781

23.5%

88

HH owns 3 TVs

2,761

23.3%

104

HH owns 4+ TVs

2,827

23.9%

114

HH subscribes to cable TV

6,969

58.8%

102

HH watched 15+ hours of   cable TV last week

7,308

61.7%

103

Purchased audio equipment in last 12 months

1,080

9.1%

110

Purchased CD player in last   12 months

724

6.1%

116

Purchased DVD player in   last 12 months

1,297

10.9%

104

Purchased MP3 player in   last 12 months

910

7.7%

88

Purchased video game system   in last 12 months

998

8.4%

97

       
Travel  (Adults)      
Domestic travel in last 12   months

11,732

45.2%

86

Took 3+ domestic trips in   last 12 months

4,302

16.6%

80

Spent on domestic vacations last 12 mo: <$1000

2,983

11.5%

91

Spent on domestic vacations   last 12 mo: $1000-1499

1,415

5.5%

79

Spent on domestic vacations   last 12 mo: $1500-1999

959

3.7%

92

Spent on domestic vacations   last 12 mo: $2000-2999

868

3.3%

81

Spent on domestic   vacations: $3000+

1,029

4.0%

82

Foreign travel in last 3   years

5,340

20.6%

82

Took 3+ foreign trips by   plane in last 3 years

876

3.4%

75

Spent on foreign vacations   last 12 mo: <$1000

1,201

4.6%

84

Spent on foreign vacations   last 12 mo: $1000-2999

956

3.7%

93

Spent on foreign vacations:   $3000+

838

3.2%

69

Stayed 1+ nights at   hotel/motel in last 12 months

9,057

34.9%

84

 

Two conclusions can be drawn from consumer spending data. First, the preceding pages show where the MPI exceeds 100, meaning a higher than average propensity to spend on seafood, chicken or turkey in both the 5 and 10 minute drive time. Second, the population is high enough to support at least four supermarkets, using the assumption that a 50,000 square foot supermarket needs a population of approximately 8,000 residents.

5 Minute Drive Time

Population

35,217

 

 

Supermarket-Consumer   Behavior

# Adults

% Adults

MPI

Used   beef (fresh/frozen) in last 6 months

17,573

67.8%

98

Used   bread in last 6 months

25,134

96.9%

101

Used chicken/turkey (fresh   or frozen) in last 6 months

19,679

75.9%

102

Used fish/seafood (fresh or   frozen) in last 6 months

13,945

53.8%

105

Used fresh fruit/vegetables   in last 6 months

22,089

85.2%

99

Used fresh milk in last 6   months

23,356

90.1%

99

       

10   Minute Drive Time

     

Population

114,408

   

Supermarket-Consumer Behavior

# Adults

% Adults

MPI

Used beef (fresh/frozen) in   last 6 months

55,638

66.4%

96

Used bread in last 6 months

81,008

96.7%

100

Used chicken/turkey (fresh   or frozen) in last 6 months

62,963

75.2%

101

Used fish/seafood (fresh or   frozen) in last 6 months

44,710

53.4%

105

Used fresh fruit/vegetables   in last 6 months

70,776

84.5%

98

Used fresh milk in last 6   months

75,389

90.0%

99

We can drill down further in the data to determine how much is spent on food at
home. Within a 5 minute drive time, total amount of money spent on food at home
exceeds $39,000,000, and within a 10 minute drive time exceeds $111,000,000.
The supply of operational large supermarkets is limited to two Winn Dixie
stores, both located to the south on Chef Menteur.

table supermarket demand

table supermarket demand

 

Using the industries categorized by NAICS code, research allows us to examine where demand might exceed supply which would dictate that a need for a business in that industry would exist. We can determine supply by estimating sales to consumers by establishments, but sales to businesses are excluded. We forecast demand, or retail potential, by estimating the expected amount spent by consumers at retail establishments. Supply and demand estimates are in current dollars. The gap between demand and supply is called the Leakage Factor, which presents a snapshot of retail opportunity.  This is a measure of the relationship between supply and demand that ranges from +100 (total leakage) to -100 (total surplus). A positive value represents ‘leakage’ of retail opportunity outside the trade area. A negative value represents a surplus of retail sales, a market where customers are drawn in from outside the trade area. The Retail Gap represents the difference between Retail Potential and Retail Sales. Retail establishments are classified into 27 industry groups in the Retail Trade sector, as well as four industry groups within the Food Services & Drinking Establishments subsector. Developed in cooperation with Canada and Mexico, NAICS represents one of the most profound changes for statistical programs focusing on emerging economic activities. The system was developed using a production-oriented conceptual framework, grouping establishments into industries based on the activity in which they are primarily engaged. NAICS moves down in detail from Sector to Subsector to Group then to Industry. This is an improvement over the previous method, the 1987 Standard Industrial Classification (SIC) system.

 

The chart below shows the Leakage Factor by NAICS Subsector for the target area. The highest Leakage Factor shows new businesses needed are:

  1. Miscellaneous Store Retailers-florists, office supply, pet shops
  2. Furniture Stores
  3. Sporting Goods Stores
  4. Clothing Stores
  5. Food Stores

 

Leakage By NAICS

Leakage By NAICS

 

Research can get more specific for more detailed level of industry classification which shows unsatisfied demand for industry groups: vending machines, used merchandise retailers, and lawn and garden stores.

Leakage By Industry

Leakage By Industry

The Leakage Factor shows what businesses are needed by the percent that demand exceeds supply, but research also shows the dollar amount of the unfulfilled demand. This can be used to forecast sales for a business coming into the area. New businesses with the highest sales (Retail Gap) are:

  1. Grocery Stores
  2. Food & Beverage Stores
  3. Clothing Stores
  4. Furniture Stores
table retail gap

table retail gap

Major Employers

The Michoud Assembly Facility is an 832-acre site owned by NASA and located in New Orleans East. Organizationally, it is part of NASA’s Marshall Space Flight Center. It is one of the largest manufacturing plants in the world with 43 environmentally controlled acres under one roof, and it employs approximately 3,700 people. Since September 5, 1973, it has been used for the construction of the Space Shuttle‘s External Tanks by its lead contractor Lockheed Martin. The Michoud Assembly Facility is currently a multi-tenant complex which is currently maintained and operated by Jacobs Technology.  in order to allow both commercial and government contractors, as well as government agencies to use the site. The facility was originally constructed in 1940 at the village of Michoud, Louisiana by Higgins-Tucker division of Higgins Industries under the direction of Andrew Jackson Higgins on behalf of the United States government for the war production during World War II to make plywood C-46 cargo planes and landing craft. During the Korean War it made engines for Sherman and Patton tanks. It came under the management of NASA in 1961 and was used for the construction of the S-IC first stage of the Saturn V rocket and the S-IB first stage of the Saturn IB rocket. It is home to the first stage of the last constructed Saturn V, SA-515.

The Michoud Assembly Facility has been most closely associated with the construction and production of NASA’s External Tank (ET) program. Throughout the Space Shuttle program, the facility produced 136 tanks. Rollout for ET-1 used for STS-1 was rolled out June 29, 1979. The last flight ready tank, ET-122, rolled out on. Only tank produced at the facility, ET-94, was not used in spaceflight and remained at Michoud as a test article.

The Michoud Assembly Facility also houses other organizations such as the National Finance Center operated by the United States Department of Agriculture, the United States Coast Guard, and the National Center for Advanced Manufacturing, a partnership between the state of Louisiana, the University of New Orleans, Blade Dynamics and NASA.

Neighborhood Rejuvenation

 

Within a 5 minute drive time, the growth of population in the area is 7 times the national average, and the satellite map below shows a few of the new businesses in the area such as Lowe’s, McDonald’s, Waffle House, Popeye’s, Day’s Inn, Best Western, Chase, and large developments such as the proposed Methodist Hospital and new $40 million senior housing center Village de Jardin.

 

rejuvination

rejuvination

Village de Jardin, a 224-unit mixed-use senior housing center in eastern New Orleans between Lake Forest Boulevard and Interstate 10. The $39.7 million project, funded by the Federal Emergency Management Agency and the Louisiana Recovery Authority, is expected to be completed in 18 months. The senior housing section of the complex will consist of two apartment buildings, each five stories tall with 150 either one- or two-bedroom apartments. Space is being considered for a commercial kitchen and dining area, a covered garage, an exercise facility, a lounge, a wellness center/clinic, activity rooms, a common area and administrative and maintenance offices. The attached unit housing is composed of eight buildings with three individual living spaces connected by exterior porches and common garden areas. There will be 14 single-family garden homes.  In addition, there will be 45 townhouse-style apartments and retail space for lease. The total amount of FEMA funding available for the project is $46.4 million, including $6.6 million previously obligated for demolition of the former Gaslight Apartments.

 

The Methodist Hospital was purchased on June 16, 2010, by the city of New Orleans for $16.25 million, with Mayor Mitch Landrieu promising to redevelop the vacant building into an 80-bed public hospital that would be the first to open east of the Industrial Canal since Hurricane Katrina in 2005. Administration officials say the city is negotiating with a potential operator for a new hospital and plans to open an emergency department within a year and complete a full renovation sometime in 2013 to serve a population base now at 77,000 and projected to be 105,000 by 2014. The total redevelopment, according to the Landrieu administration’s 100-page review of the health care system in eastern New Orleans, is projected to cost $110 million.

Nearby Universities

 New Orleans East is close to four Universities and Lakefront Airport

  1. William Carey College, 300 student population
  2. Southern University, 3,140 student population
  3. University of New Orleans, 12,000 student population
  4. Dillard University, 950 student population
universities

universities

 

Demographics

In the 5 minute drive time, population from 2000 to 2009 declined from 67,717 to 32,391. The population is expected to grow to 45,693 by 2014. The household growth rate from 2009 to 2014 is among the highest in the US at 7.28%.

 

 

5   minute drive time

10 minute drive time

15   minute drive time

Population Density, 2000

67,717

343,898

658,759

Population Density, 2009

32,391

200,007

478,534

Per Capita Income, 2009

14,405

16,875

20,391

Average Household Income, 2009

40,743

42,560

50,039

Renter Occupied Housing Units, 1990

45%

47%

45%

Renter Occupied Housing Units, 2000

46%

47%

45%

Renter Occupied Housing Units, 2009

22%

29%

33%

Renter Occupied Housing Units, 2014

32%

39%

39%

2009 Population, age 20-24

2,426

15,489

38,109

2009 Population, age 25-34

4,291

27,241

67,181

 

Households By Income, 2009

5 minute drive time

10 minute drive time

15 minute drive time

under $10,000

14%

16%

13%

$10,000-$19,999

17%

18%

16%

$20,000-$29,999

14%

15%

13%

$30,000-$39,999

14%

12%

12%

$40,000-$49,999

9%

9%

9%

$50,000-$59,999

9%

8%

8%

over $60,000

19%

19%

19%

Households By Income, 2009

         11,440

77,589

   191,851

2009 to 2014 Household Growth Rate

7.28%

5.92%

3.34%

 

The annual growth rate in the area of 5 minute drive time is 7 times the state and national average (see chart below, Trends 2009-2014).

 

population growth rate

population growth rate

 

chart industry employment

chart industry employment

Population within a 5 minute drive time exceeds the US average in every age group below 35, and the 55-64 age group, and 37% of the population with a 5 minute drive time earns over $40,000 annually.

 

population by age

population by age

 

chart households by income

chart households by income

  

 

The 2008 traffic study by the Louisiana Department of Transportation showed the I-10 traffic in New Orleans east between 34,000 and 58,000 cars per day.

traffic count map

traffic count map

 

Sources: wwwlouisianacomercialrealty.com; US Bureau of Census; ESRI; CCIM Site To Do Business

For a copy of the report in pdf format with original tables and charts, email the author at roberthand@cox.net.

 

 

 

 

 

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