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Economic Incentives for Businesses of All Sizes

Program Name

Benefit

Eligibility (Not Comprehensive)

Enterprise Zone

Tax credit program: provides a one-time $2,500 tax credit per certified net new job, and either a 4% sales/use tax rebate on capital expenditures or an investment tax credit equal to 15% of qualifying expenses

 

• Must increase employment within specified time frame

• No part time employees are eligible for job tax credits

• Must hire 50% of new workers from one of four targeted groups 

• If your NAICS is 44 or 45 and have 100+ employees nationwide, including affiliates, you are not eligible unless you are a grocery store or a pharmacy and located in an EZ.

 

 

Quality Jobs

Cash rebate: provides 5% or 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 15% of qualifying expenses

 

• Must fall within one of the state’s target industries or

 

• Have total annual out-of-state sales of at least 50%

Restoration

Tax Abatement

Property tax abatement: provides five-year 100% abatement for the rehabilitation of an existing structure based on assessed valuation of property prior to beginning of improvements

 

• Must be located in a qualifying district and approved by local governing authority

 

• Does not exempt the acquisition cost of the structure

Industrial Tax

Exemption

Property tax abatement: provides a 100% property tax abatement for up to 10 years on manufacturer’s qualifying capital investments

 

• Applies only to capital investments by Louisiana manufacturers

 

• Property must remain on the site at all times

Research &

Development

Tax Credit

Tax credit program: provides up to a 40% tax credit for Louisiana businesses (based on employment) that conduct research and development activities in Louisiana

 

• Must have incurred federal research and development expenses and/or received SBIR/STTR grant(s)

Sound Recording

Investor Tax Credit

Tax credit program: provides a 25% refundable tax credit on qualified expenditures for sound recording productions

 

• Must spend at least $15,000 in Louisiana

Digital Media and

Software Incentive

Tax credit program: provides a 25% tax credit on qualified production expenditures and a 35% tax credit for Louisiana resident labor expenditures

 

• Must be a digital interactive media production in Louisiana

 

• Excludes largely static Internet sites and products regulated under the Louisiana Gaming Control Law 

Motion Picture Investor Tax Credit

Tax credit program: provides a tax credit of 30% on

qualified production expenditures and an additional 5% tax credit for Louisiana resident labor expenditures

 

• Must spend at least $300,000 on motion picture production in Louisiana    

Live Performance

Tax Credit

Tax credit program: provides a tax credit of up to 35% on qualified production or infrastructure development expenditures; additional credits available for payroll and transportation expenditures

 

 

• Must spend at least $100,000 on live performance production or infrastructure projects in Louisiana       

LED FastStart™

Workforce development program: provides workforce recruitment, screening and training to new and expanding Louisiana companies at no cost

• Any manufacturing, digital media, corporate headquarters, warehouse and distribution, research and development or other strategic facility must commit to creating at least 15 jobs

 

• Service providers must commit to creating at least 50 jobs

 

Technology

Commercialization

Credit and Jobs

Program

Tax credit program: provides 40% refundable tax credit on costs related to the commercialization of Louisiana

technology and a 6% payroll rebate for the creation of new direct jobs

 

 

• Must commercialize a technology developed in Louisiana

 

• Must partner with a Louisiana higher education institute or be a governmental research institution

Modernization

Tax Credit

Tax credit program: provides a 5% refundable state tax credit for manufacturers modernizing or upgrading

existing facilities in Louisiana

• Must improve entire facility’s or specific unit’s efficiency by 10% or more or

 

• Facility must be in competition for capital expenditures within a company’s established capital expenditure budget plan

 

 

 

 

 

 

Special Incentives for Small Businesses

Small Business Loan Program

 

Loan assistance program: provides up to 75% loan guarantees to facilitate capital accessibility

 

• Must be a Louisiana small business (as defined by SBA)

• Must have a business plan and a bank willing to fund the loan

 

Micro Loan Program

 

 

Loan assistance program: provides up to 80% loan guarantee for banks that fund loans of $5,000 to $50,000 to small businesses

 

 

• Must be a Louisiana small business (as defined by SBA

• Must fall within one of the state’s target industries or

 

 

Bonding Assistance Program

 

Loan assistance program: provides up to 25% loan

guarantee for qualifying small contractors bidding on private or public jobs

 

• Must be certified in Small and Emerging Business

Development Program

• Must complete Louisiana Contractors Accreditation

Institute or have LED waiver

 

 

Veteran Initiative

 

 

Provides veteran-owned and disabled, service-oriented

veteran-owned small businesses with greater potential

for access to state procurement and public contract

opportunities

 

• Must be a veteran or disabled, service-oriented veteran

• Must be certified by LED, a Louisiana resident and have fewer

than 50 full-time employees

 

 

Angel Investor Tax Credit

 

 

 

Tax credit program: provides credit up to 35% for individual investors when they invest in early stage, wealth-creating

businesses

 

 

 

• Must have principal business operations in Louisiana

• Must have Louisiana tax identification number

 

 

 

 

 

The Acadiana Economic Development Council provides information on incentive programs and tax credits in general terms only. Every effort has been made to present current information. However, federal and state revenue codes are complex and change frequently. Furthermore, the provisions of the tax code regarding at-risk rules, passive activity limitation, and alternative minimum tax can affect a taxpayer's ability to use tax credits. Applicants are strongly advised to consult an accountant, tax attorney, or other professional tax advisor or legal counsel for help in determining whether these incentives pertain to their own situations. We make no representation that any of these incentives are available for a given project, only that they exist in law.