For additional information, contact:

INCENTIVES
Linda Prudhomme
Director of Business Development
888-752-7678 toll free
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

Julia Remondet
St. John Parish Office of Economic Development
985-652-7187 tel
ecodev@sjbparish.com

Audrey Temple
St. James Parish Office of Economic Development
225-869-1717 tel
ecodev@stjamesla.com

 


Louisiana Economic Development
800-450-8115 toll free
225-342-3000 tel
http://led.louisiana.gov

 


www.gozoneguide.com

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

FOREIGN TRADE ZONE #124
Lisa Braud
Foreign Trade Zone Manager
888-752-7678 toll free
985-652-9278 tel
lbraud@portsl.com

 

  

 

Business Incentives

 

TOP NEWS

During a Special Session in 2008 of the Louisiana Legislature, several business taxes were eliminated that will impact new and existing Louisiana businesses. These include a 1% sales tax on utilities, representing a $69 million savings for businesses per year.

Others were the accelerated phase-out of sales tax on manufacturing machinery and equipment (by 2009) and the franchise tax on borrowed capital.

 

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.

 

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.
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.
ECONOMIC DEVELOPMENT ASSISTANCE PROGRAM (EDAP)
Administered by the Louisiana Department of Economic Development, this provides grants for publicly owned infrastructure to assist industrial or business development projects that promote economic development and that require state assistance. s
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.
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.
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 INDUSTRY DEVELOPMENT 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.
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

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
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

The Port of South Louisiana serves as the grantee of Foreign Trade Zone #124. In 2008, FTZ #124 received $99.8 billion in U.S. product activity and facilitated the employment of 9,209 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 12 sub-zones included under FTZ #124:

  • North American Shipbuilding
  • Valero
  • Motiva Enterprises - Convent
  • Louisiana Offshore Oil Port (LOOP)
  • Marathon
  • Motiva Enterprises - Norco
  • Bollinger Shipyards
  • J. Ray McDermott
  • Ergon St. James
  • M-I, LLC
  • Candies Shipbuilding
  • Baker Hughes

U.S. Foreign Trade Zones received $747 billion in goods in 2008 and supported 350,282 U.S. jobs. Click below for more information.

National Association of Foreign Trade Zones: The Impact of Foreign Trade Zones on the 50 States and Puerto Rico
 
 
 
 
 
 

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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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