As New Orleans' Louis Armstrong International Airport expands into a new terminal this fall, business in the surrounding area should grow as well.
According to local real estate expert, Wade Ragas, in most southern cities, the largest concentration of employment is an area around their airport.
"When you look at these mega-airports like Atlanta, Dallas or Houston, you'll see when you fly in that you go over miles of commercial development. The airport plays a huge role in that. And that will begin to happen here."
He says the area should attract companies with the fast response, 'immediate delivery' approach that's being taken by so many firms now, led by Amazon. The areas likely to benefit most from the airport expansion, says Ragas, are on the west side of New Orleans."The jobs come first," Ragas says. "And, right now there's room to do a lot more job growth on the west side of New Orleans into Jefferson and St. Charles parishes."
He says much growth may revolve around fast response warehouses, taking advantage of the proximity to the airport. "You'd expect to see more trucking-oriented operators go into that area, providing support for the oil and gas industry. You'd also see frozen foods grow further." And, he says the potential commercial development is a good deal, at a good price, for metro New Orleans. "It's a very good thing. And it's being done with a lot of private money and federal money and money from visitors who travel here, with deplaning fees. So it's not burdening the public with a large tax bill." The new $1.3 billion North Terminal, which will replace the airport's existing terminal, has been delayed several times. It will be the latest upgrade and expansion of an airport in the U.S.,
However, getting to the airport will likely cause traffic headaches until so-called flyovers — like the ones at I-10 at Williams Boulevard — are opened, which will not be until at least 2023.