INDUSTRIAL TAX EXEMPTION

This is Louisiana's original incentive program, for capital investments, and is for manufacturers only. It may be used by manufacturers new to the State as well as new investments and miscellaneous capital additions to existing facilities in Louisiana. For more details on how the program works and its benefits, please click here.

ENTERPRISE ZONE PROGRAM

The Enterprise Zone (EZ) Program is a JOBS incentive program which provides Louisiana Income and Franchise tax credits to a business hiring a minimum number of net new employees, 35% of of these new jobs must be filled from one of four targeted groups. A business does not have to be investing money, just creating additional jobs. Because of the Jobs creation, Sales/Use Tax rebates may be available.

EZs are areas with high unemployment, low income, or a high percentage of residents receiving some form of public assistance. The Board of Commerce and Industry is responsible for approving these applications. The Department of Economic Development, Office of Business Development, Business Incentives Division administers this Program.

For more details on how the program works and its benefits, please click here.

QUALITY JOBS PROGRAM

This Program provides a refundable tax credit as an incentive to encourage targeted businesses to locate in Louisiana, create quality jobs and promote economic development. This program is administered by the Department of Economic Development.

For more details on how the program works and its benefits, please click here.

RESTORATION TAX ABATEMENT

The Restoration Tax Abatement (RTA) Program is an economic development incentive created for use by municipalities and local governments to encourage the expansion, restoration, improvement, and development of existing commercial structures and owner-occupied residences in Downtown Development Districts, Economic Development Districts, or Historic Districts.

The RTA program does not exempt the acquisition cost of the structure. In addition, only equipment which becomes an integral part of that structure can qualify for this exemption (not machinery and equipment used in the business, i.e.: retail gondolas or movable property such as furniture and fixtures, etc.)

Note: an Enterprise Zone or Economic Development Zone is not a qualifying district.

For more details on how the program works and its benefits, please click here.

INCENTIVE WORKSHOPS SCHEDULES / TIMES/ PLACES: CLICK HERE!

LOUISIANA ECONOMIC DEVELOPMENT CORPORATION (LEDC)

The Louisiana Economic Development Corporation (LEDC) administers several programs for small Louisiana businesses, ranging from loan guarantees, participations, and grants to venture capital investment.

The Louisiana Economic Development Corporation was established in July of 1988 by an Act of the Legislature. LEDC serves as the one reviewer and administrator of the Department of Economic Development's financial assistance programs.

Approval of requests for financial assistance occurs at different levels, depending on the dollar level of LEDC's involvement in the project. LEDC is governed by a 12-member Board of Directors appointed by the Governor. Board meetings are held on the first Friday of each month. The board's Loan Committee meets prior to the full board meeting to review and make recommendations on project requests. The full board has final authority on all projects, but generally only projects requiring LEDC's involvement at more than $ 1,000,000 are presented directly to the Committee and Board.

An internal loan committee augmented by two Board members has the delegated authority to approve LEDC's involvement over $ 250,000 to $ 1,000,000. Up to $ 250,000 may be approved by a committee of only LEDC staff. These delegated approval authorities have allowed staff to process requests for assistance at a pace more in tune with the pace of business, with a decision rendered in the span of days as opposed to months.

Director, Resource Services.................... Mike Williams

Click here to visit the Small Business Loan Assistance Programs

To know about the State of Louisiana and it's economic development resources click here.