New Orleans’ mini tech boom and a state tax credit program for digital-media and software firms are profiled in a story on WallStreetJournal.com.
New Orleans’ stock of tech jobs grew 19 percent from October 2005 to April 2012, according to a tech jobs metric from Moody’s Analytics. Nationwide, tech jobs grew by 3 percent over the same period.
Young nerds with laptops are relocating from New York, San Francisco and elsewhere to New Orleans, to work at established digital businesses and start-ups, said Chris Schultz, co-founder of Launch Pad, the New Orleans tech incubator.
Moody’s tech jobs metric includes everything from pharmaceuticals manufacturers to software publishers.
The Journal cites figures from BaxStarr Consulting Group LLC showing that between 2008 and 2010, 69 projects qualified for Louisiana’s digital-media and software tax credit. The credit covers 25 percent of companies’ production costs and 35 percent of payroll expenses for workers who live in Louisiana.
However, the article says, there is some question whether New Orleans’ tech community can continue growing in a city struggling with revenue and infrastructure problems and one of the highest per-capita murder rates in the nation.