Community Economic Development
Black and Brown-led brick-and-mortar businesses that create jobs and build community along the Broad Street corridor.
Propeller addresses the disparities faced within our neighborhood and New Orleans as a whole by supporting local economic development through the CED focus area of the Impact Accelerator by supporting the Black and Brown-owned brick and mortar businesses located in the Broad Street corridor. Additionally, we work to address disparities at the New Orleans-ecosystem level by supporting Black and Brown-led organizations working to create a more equitable entrepreneur ecosystem for entrepreneurs of color and also support the development of affordable housing within the Broad Street corridor.
- 19.7% of Louisiana’s residents live in poverty, with a New Orleans poverty rate of 18.6% ¹
- 60% of New Orleans is Black and 40% of the businesses in New Orleans are Black-owned, but receive less than 2% of business receipts ²
- Over 60% of New Orleans’ renters are cost-burdened (paying more than 30% of their income towards rent)
- South Broad Business Coalition: In 2017, Propeller partnered with the Rhodes Family of Rhodes Funeral Home and other neighborhood businesses and stakeholders to relaunch the South Broad Business Coalition(SBBC). The SBBC serves as the convenor of neighborhood businesses and has engaged 90+ community members and businesses.
- Mackie One Construction (SBBI ‘17): has been providing roofing, gutters, and siding services to the New Orleans area since Hurricane Betsy in 1965. Through their participation in the 2017 South Broad Business Initiative (SBBI) Accelerator, Mackie One successfully secured a contract with the Convention Center.