Economy of New Orleans

d relocated that division to Phoenix, Arizona. Its McMoRan Exploration affiliate remains headquartered in New Orleans. Other companies either headquartered or with significant operations in New Orleans include: Pan American Life Insurance, Pool Corp, Rolls-Royce, Newpark Resources, AT&T, TurboSquid, iSeatz, IBM, Navtech, Superior Energy Services, Textron Marine & Land Systems, McDermott International, Pellerin Milnor, Lockheed Martin, Imperial Trading, Laitram, Harrah's Entertainment, Stewart Enterprises, Edison Chouest Offshore, Zatarain's, Waldemar S. Nelson & Co., Whitney National Bank, Capital One, Tidewater Marine, Popeyes Chicken & Biscuits, Parsons Brinckerhoff, MWH Global, CH2M HILL, Energy Partners Ltd, The Receivables Exchange, GE Capital, and Smoothie King.

Tourism

Tourism is another staple of the city's economy. Perhaps more visible than any other sector, New Orleans' tourist and convention industry is a $5.5 billion juggernaut that accounts for 40 percent of New Orleans' tax revenues. In 2004, the hospitality industry employed 85,000 people, making it New Orleans' top economic sector as measured by employment totals. The city also hosts the World Cultural Economic Forum (WCEF). The forum, held annually at the New Orleans Morial Convention Center, is directed toward promoting cultural and economic development opportunities through the strategic convening of cultural ambassadors and leaders from around the world. The first WCEF took place in October 2008.

The federal government has a significant presence in the area. NASA's Michoud Assembly Facility is located in New Orleans East and is operated by Lockheed Martin. It is a large manufacturing facility where the external fuel tanks for the space shuttles are produced. The Michoud