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Not an alchemy of committed natives, as well as these very enterprising, idealistic newcomers. >> those who stayed in new orleans like matt wisdom and ken were considered pioneers. >> we felt like the wild west and it made us feel like we were pioneers rebuilding something from the ground up. >> when everyone else was fleeing the city and businesses were closing left and right, and the news was piling on about who's leaving town next, i said you know, i'm going to do something right. >> and today, while other cities are struggling to stay afloat during this tough economy, new orleans has been ...

Countless livelihoods disappeared, too. nearly 130,000 jobs were lost around new orleans alone, as businesses crumpled and their owners fled. >> i was born and raised here. >> reporter: matt wisdom stood firm. >> it wasn't clear we could return to anything that we had known before. >> reporter: what made you decide to stay? >> we just decided, you know, we can't be away from it. this is the time. either come and make it work or leave and find a new life. >> reporter: now, where are we now? >> we are in the headquarters office in new orleans. >> reporter: but matt's fledgling company, turbo qui...

>> we're passionate. >> my name is kyle burner. i am the crea tor and ceo of field goods flip-flops. >> my name is sima sudan and i candy knitwear. >> i'm the co-founder and president of the receivables eke change. >> reporter: five years after the devastation from hurricane katrina, new orleans is experiencing a renaissance. and small business owners are leading the way. >> new orleans is becong this national laboratory of a next generation of entrepreneurial leaders. >> it's created sort of an interesting synergy of, you know, committed natives as well as these very enterprising idealistic n...

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