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For
additional information, contact:
INCENTIVES
Linda Prudhomme
Director of Business Development
1-855-SLA-PORT (752-7678)
985-652-9278 tel
lprudhomme@portsl.com
Other
River Region Economic Development Initiative
(RREDI) Contacts:
Corey Faucheux
St. Charles Parish Department of Economic Development
985-783-5140 tel
econdev@stcharlesgov.com
Torri Buckles
St. John Parish Office of Economic Development
985-652-9569 tel
ecodev@sjbparish.com
Audrey
Temple
St. James Parish Office of Economic Development
225-562-2520 tel
audrey.temple@stjamesla.com
Louisiana
Economic Development
800-450-8115 toll free
225-342-3000 tel
http://led.louisiana.gov
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PSL Home > Business Development > Louisiana Business Incentives
Business
Incentives |
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TOP
NEWS
During the last four years, Louisiana has leapt 24 spots to #16 in Polina Corporate Real Estate's annual ranking of top pro-business states. Louisiana also moved up 32 spots to be ranked #13 in Chief Executive magazine's Best and Worst States for business and was heralded as the most improved state. Site Selection magazine ranked Louisiana #7 in the nation, a huge leap from #22 in 2008. Area Development ranked Louisiana as the #6 state for doing business in both 2011 and 2012.
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The
River Region offers a comprehensive and competitive
package of business incentives for new and existing
businesses. Both the state of Louisiana and the parishes
of St. Charles, St. John, and St. James have dedicated
funds available for major infrastructure and capital
purchases for companies considering locating to the
River Region.
In
general, the type, scope, and specific dollar amounts
that can be committed to individual new or expanding
business projects are determined by the economic impact
of the company's investment in the local area in terms
of the duration or longevity of the investment, the
number of jobs and payroll created.
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la
incentives
LOUISIANA BUSINESS INCENTIVES |
QUALITY
JOBS PROGRAM
Provides up to 6% rebate on annual payroll expenses for up to 10 years; and either a 4% sales/use tax rebate on capital expenditures or an investment tax credit equal to 1.5% of qualifying expenses. |
INDUSTRIAL
PROPERTY TAX EXEMPTION PROGRAM
Provides 100% property tax abatement for up to 10 years on materials used in new manufacturing. Program benefits can be combined with those of other programs,
such as the Enterprise Zone or Quality Jobs programs.
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ENTERPRISE
ZONE PROGRAM
Provides a $2,500 tax credit for each certified net new job created; and either a 4% sales/use tax rebate on capital expenditures or income and franchise credits up to 1.5% of investment. |
PORT INFRASTRUCTURE TAX CREDIT
Provides private sector investors a credit of up to 100% of their capital expenditures for qualifying projects of $5 million or more at a Louisiana public port.
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LOUISIANA FASTSTART
Provides workforce recruitment, screening, and training to new and expanding Louisiana companies at no cost. |
RESTORATION
TAX ABATEMENT PROGRAM
Provides a five-year 100% property tax abatement for the rehabilitation of an existing structure. |
Most
of Louisiana's tax credit programs are administered by
the
Louisiana
Department of Revenue.
A booklet outlining the eligibility requirements and forms
is available online. |
INVENTORY
TAX CREDIT
The Inventory Tax Credit provides a 100 percent refundable
tax credit against state corporate income and franchise
taxes for inventory taxes paid to political subdivisions.
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CORPORATE
JOBS TAX CREDIT PROGRAM
The Corporate Jobs Tax Credit Program provides credits
of up to $225 per new worker. The credits can be used
to satisfy state corporate income taxes and are an alternative
option to the benefits of the state's Industrial Property
Tax Exemption program and Enterprise Zone program benefits.
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RESEARCH
AND DEVELOPMENT TAX CREDIT PROGRAM
Provides a tax credit up to 40% to existing businesses with operating facilities in Louisiana to establish or continue research and development activities within the state. |
BIOTECHNOLOGY
SALES/USE TAX EXEMPTION
Under the plan, equipment classified under the NAICS biotechnology
category will be exempt from all state and local sales/use
taxes. |
CUSTOMIZED
SOFTWARE TAX PHASE-OUT
Customized software developers in Louisiana are exempt
from state sales and use taxes (local is optional). |
MOTION PICTURE INVESTOR TAX CREDIT
A transferable tax credit of 30% for qualified motion picture production expenditures and an additional 5% tax credit for Louisiana resident labor expenditures. |
AUTOMOTIVE
AND AEROSPACE INDUSTRY TAX CREDIT
The program provides a $5,000 one-time income tax credit
per new job for companies that participate in the Enterprise
Zone program in the automotive and aerospace industries.
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RURAL
TAX INCREMENT FINANCING
The Rural TIF Program allows parishes or municipalities
with a population of at least 250,000 the ability to offer
tax increment financing on sales, use, property, and hotel
occupancy taxes. |
COOPERATIVE
ENDEAVOR AGREEMENTS
Allows the use of public funds for cooperative endeavor
agreements for economic development projects to be used
on privately owned land or buildings, instead of need
for public ownership for transaction. |
TAX
EQUALIZATION
The state of Louisiana will match the tax rates of a competing
state if necessary to retain a business in the state.
Approval by the LA Legislature is required. |
INDUSTRY
ASSISTANCE PROGRAM
Financially distressed companies anticipated to close
in the state might be eligible for tax relief from the
state in order to retain jobs and investment. Approval
by the LA Legislature is required. |
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gozone
GULF OPPORTUNITY ZONE |
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In
the wake of the 2005 hurricanes, the Bush Administration
passed a package of incentives for existing and new
businesses located in Louisiana's designated areas.
Although Ascension Parish was not negatively impacted
by the hurricanes companies can benefit from these programs.
- Enhanced Section 179 expensing for small businesses
- Fifty percent bonus depreciation for expansion or new
building construction
- Increase in the Rehabilitation Tax Credit to help restore
commercial buildings
- Employer-provided housing incentives
- Expansion and extension of the Employee Retention Tax
Credit
- Extension of the net operating loss carryback period
- Reduction of demolition and cleanup costs
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Comunity Development Block Grant
Grants to expanding and new companies for infrastructure
projects in areas affected by the 2005 hurricanes. |
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ftz124
FOREIGN TRADE ZONE 124 |
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The
Port of South Louisiana serves as the grantee of Foreign
Trade Zone #124. In 2011, FTZ #124 facilitated the employment of 4,060 workers.
The zone consists of one general purpose
site, totaling 1,218 acres, within the Port's jurisdiction,
which encompasses 54 miles of the Mississippi River.
Additionally,
there are 13 sub-zones included under FTZ #124:
- North
American Shipbuilding
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Valero
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Motiva Enterprises - Convent
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Louisiana Offshore Oil Port (LOOP)
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Marathon
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Motiva Enterprises - Norco
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Bollinger Shipyards
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J. Ray McDermott
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Halliburton Energy Services
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M-I, LLC
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Candies Shipbuilding
- Excalibar Minerals
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Baker Hughes
U.S. Foreign Trade Zones received $640.9 billion in goods in 2011 and supported 340,000 U.S. jobs. Click below for more information. |
RESOURCES:
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financial
assistance
FINANCIAL ASSISTANCE |
LOUISIANA
ECONOMIC DEVELOPMENT CORPORATION (LEDC)
The Louisiana Economic Development Corporation (LEDC)
was established in July 1988 by an Act of the Legislature.
LEDC serves as the one reviewer and administrator of the
Department of Economic Development's loan, guaranty, and
grant programs. LEDC administers several programs for
small Louisiana businesses, ranging from loan guarantees
to venture capital. |
LOUISIANA
PROJECT EQUITY FUND
Louisiana Project Equity Fund is a new financing program
created by the Louisiana Economic Development (LED) to
assist small businesses in purchasing capital equipment
and accompanying inventory and/or technology for enhanced
production. The program is administered by the Louisiana
Economic Development Corporation. |
LOUISIANA
PUBLIC FACILITIES AUTHORITY
The Louisiana Public Facilities Authority is a private
publicly funded corporation that administers Industrial
Revenue Bonds (IDBs) for businesses expanding or relocating
to Louisiana. |
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