Economic developers from Louisiana, New Orleans and the Southeast and Industrial Realty Group are building a new project on NASA’s Michoud Assembly Facility called Propel Park. The group has hired Impetus who will build the new industrial and office development on the 50-acre campus.
“Doubling down on the importance and success of NASA Michoud, Propel Park will welcome new companies and drive new growth for New Orleans East. Michoud is a world class facility, designing and assembling the biggest rockets and the longest windmill blades in human history, so it makes great sense to create a new facility to allow others to be near and leverage this capacity,” says Michael Hecht, president and CEO of Greater New Orleans Inc.
Stuart Lichter, president of IRG says the project is in the works and tenants should be able to join the project in 2023. The project will generate over 1 million square feet of modernized industrial space. Those invested have their sites on the project to boost business attraction efforts. Companies that need a space for light assembly, manufacturing, distribution and office operations will now have the facility in New Orleans.
“IRG and Textron’s investment in New Orleans East at Propel Park will indeed propel the campus forward, providing economic opportunity for a new generation and building on the foundation that the NASA Michoud Assembly Facility has stewarded for over a half-century. This project undoubtedly will create more jobs and spur additional investment in our community, and we look forward to continuing to support this development through all its phases,” says Mayor LaToya Cantrell.
The project will create new high-demand advanced manufacturing jobs in New Orleans and is the first huge new industrial construction project in New Orleans for the past decades. This helps New Orleans East become an area that will boost economic opportunities for both New Orleans’ residents and businesses. NASA’ Michoud Assembly Facility (NOLABA) has brought many high-quality jobs to the area.
Propel Park has already signed its first tenant, Textron Systems, for a 10-year lease. Textron Systems currently leases a space in the area, but the new space will give them 97,025 square feet for its distribution hub. The tenant will be in the first phase of the development.
“The development of Propel Park demonstrates the importance of community partnerships in attracting business and creating jobs in New Orleans, especially in New Orleans East. We all must have a seat at the table to help New Orleans continue to grow and thrive. This economic development project will offer vast opportunities for additional industrial growth with its proximity to the airport, highways, ports and the rich culture of New Orleans,” boasts Taurus Wright, director of economic development for Entergy New Orleans.
