The South is booming.
Nashville, Austin, Miami, the Raleigh-Durham area and numerous other Southern cities are attracting major companies, new startups and an influx of new residents.
Where is New Orleans on this list? According to the latest census, we are losing more residents than any large metro area in the country. How do we fix this? How does New Orleans, once the economic jewel of the South with so many unique strengths and possibilities, regain its standing among its thriving peers?
The cities mentioned above share one common trait — the presence of a major research university. The recent visit to Tulane by President Joe Biden and first lady Jill Biden underscored the critical role research universities can play in reimagining and revitalizing their hometowns.
The president and his wife announced up to $23 million in funding for Tulane to create an imaging system that will ensure that no cancer tissue is left behind after tumor surgery. Such an advancement would revolutionize cancer treatment and save lives. The funding, which was part of $150 million distributed to leading institutions across the country, came through the Advanced Research Projects Agency for Health, or ARPA-H, which was established with bipartisan support by Congress in 2022.
This commitment from all parties in Congress fuels the type of interdisciplinary, multi-institutional research in which Tulane and other Louisiana universities are engaged. Increasing breakthrough research such as this and centering it in the city’s commercial corridor will not only save lives; it can also help New Orleans enjoy the prosperity of rising cities across the South.
This is why we are doubling down on investing in the city, especially the downtown campus where we are embarking on a historic expansion that envisions the transformation of the old Charity Hospital into a hub of innovation and discovery. We are also repurposing Tulane Medical Center as home to a new nursing program, outpatient clinics, research labs and instructional space.
While we may envy today’s Southern boomtowns, New Orleans is better positioned for growth than those cities, which do not come close to the cultural richness, immersive experience and joie de vivre found here. What place on Earth does? If we can tap into the power of our local universities, they will play an irreplaceable role in the rebirth of New Orleans.
I say irreplaceable because, unlike other businesses, university research spurs startups that are responsible for the revitalization of cities across the country. As part of this process, we bring in new revenue including from an influx of federal research funding, donor dollars, students, faculty, staff, visitors and fans.
Michael Fitts
Last year alone, Tulane attracted nearly $210 million in outside funding in the form of federal grants and sponsored research awards. This support drives discovery that spurs startups and bioscience entrepreneurship which market advancements that improve life for everyone.
The impact of our universities is already immense. A new economic report reveals that with faculty research awards up 70%, interest among the nation’s best students at an all-time high and the downtown expansion underway, Tulane is a community and economic powerhouse. The report estimated that the university makes an annual $5.2 billion contribution to the state’s economy.
And while industries may move to other cities, universities have permanence. Tulane has been in New Orleans for nearly 200 years, and we are not going anywhere.
Our growth is inclusive, too, reaching Louisianans in all 64 parishes, supporting more than 30,000 jobs statewide and generating $88.2 million in annual state tax revenue. In New Orleans alone, we have a yearly economic impact of $2.3 billion and support more than 17,000 jobs. These jobs don’t just include scientists. They are well-paying positions at every level — construction, operations, finance and numerous others.
In developing the new cancer imaging technology, Tulane will work with institutions throughout Louisiana, including Southeast Louisiana Veterans Hospital and Tulane’s flagship hospital, East Jefferson General Hospital. Like all of Tulane’s work, this advancement will have a social and economic impact across the region including in rural areas.
With a commitment from every level of government, Tulane and its fellow universities can launch New Orleans into a new era of unprecedented growth with an economy based on innovation and breakthroughs that benefit everyone and create a city of endless possibilities.