New Orleans' mayor signed an order Monday requiring that large businesses use as many local and minority-owned firms as possible when they seek millions of dollars in tax incentives and grants for Hurricane Katrina recovery.
Mayor Ray Nagin's executive order requires applicants for the incentives to involve 50 percent local businesses and 35 percent women- or minority-controlled businesses whenever possible.
A similar requirement has been in place for government contracts, but the mayor's order expands it to businesses applying for assistance promised by various federally funded recovery programs that are administered by the city and the state.
"We just want to make sure we don't go back to a city of haves and have-nots," Nagin said at a news conference. "This is imperative, not only for us but for our kids and grandkids."
http://news.yahoo.com/s/ap/20061002/ap_on_re_us/nagin_minority_businesses_3
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