Lafayette Region Business Incentives

CustomizedIncentives

If your company is looking to expand, relocate, or grow, Louisiana's tax credits and incentive programs can give your company a competitive edge. Acadiana values its target industries, and will align state and local resources to provide custom incentive packages.

LED FastStart

The nation's No. 1 workforce training program, FastStart creates customized employee recruiting, screening and training solutions — at no cost to eligible companies.

 

Recognized for its innovation, effectiveness, flexibility and efficiency, Louisiana Economic Development (LED) FastStart® is the nation's best state workforce training program, according to Business Facilities magazine. FastStart provides customized employee recruitment, screening, training development and training delivery for eligible, new or expanding companies — all at no cost. Based on a company's immediate and long-term workforce needs, the FastStart team crafts unique programs that ensure high-quality, flexible workers are prepared on day one and beyond.

The FastStart team includes dozens of experienced professionals from a range of businesses — manufacturing to corporate headquarters, digital media to customer support centers and R&D. FastStart has designed and delivered comprehensive workforce solutions for a wide variety of Fortune 500 companies, as well as high-tech companies funded by leading venture capital firms.

FastStart Experience Includes:

  • 2D/3D Graphics Development
  • Curriculum Design
  • Instructional Design
  • Leadership Instruction
  • Organization Development
  • Photography
  • Project Management
  • Recruitment and Selection Tactics
  • Social Media Campaign Implementation
  • Technical Instruction
  • Videography
  • Web Design

Contact

Jim Bourgeois

Executive Director of Business Development

jim@oneacadiana.org

337.408.3662

Enterprise Zone

The Enterprise Zone, or EZ program is a jobs incentive program that provides Louisiana income and franchise tax credits to a new or existing business located in Louisiana creating permanent net new full-time jobs, and hiring at least 50% of those net new jobs from one of four targeted groups. The benefit provides:

 
  • A one-time $2,500 job tax credit for each net new job created
  • A 4% rebate of sales and use taxes paid on qualifying materials, machinery, furniture, and/or equipment purchased or a 1.5% refundable investment tax credit on the total capital investment, excluding tax exempted items.

Industrial Tax Exemption

The Louisiana Industrial Ad Valorem Tax Exemption Program (ITEP) is an original state incentive program which offers an attractive tax incentive for manufacturers within the state.

 
  • The program abates, up to ten years, local property taxes (Ad Valorem) on a manufacturer's new investment and annual capitalized additions related to the manufacturing site.

Quality Jobs

The Quality Jobs, or QJ, program provides a cash rebate to companies that create well-paid jobs and promote economic development.

 
  • The program provides up to a 6% cash rebate on 80% of gross payroll for new direct jobs for up to 10 years. Effective July 1, 2018, the rebate is available on 100% of gross annual payroll.
  • Provides a 4% sales/use rebate on capital expenditures or a 1.5% refundable investment tax credit on the total capital investment, excluding tax exempted items.

Competitive Projects Payroll Incentive Programs

The Competitive Projects Payroll Incentive (CPPI) Program provides an incentive rebate of up to 15 percent of a participating company's new payroll for up to 10 years.

 
  • Additionally, a participating company will be eligible for either a rebate of state sales and use taxes on capital expenditures or a 1.2 percent project facility expense rebate. See Rebate Amounts by Industry:

 

The team that [FastStart] brought in here has been the highest professional – exceedingly capable and really felt like the group was vested in what we were trying to accomplish right along with us from the very start. The tools we’ve gotten so far have been top quality, very professional. Everything we’ve gotten from FastStart has met or exceeded what we had hoped to get.

Paul Granberry

Senior Director and Head of North American Generics and Operations (2008-2012)

Angel Investor Tax

 

Louisiana's Angel Investor Tax Credit (AITC) encourages accredited investors to invest in early stage, small wealth-creating Louisiana businesses that seek startup and expansion capital.

  • Provides a 25.2% tax credit on investments by accredited investors who invest in businesses certified by Louisiana Economic Development as Louisiana Entrepreneurial Businesses (LEB).
  • $3.6 million annual program cap.
  • Investors can invest $720,000 per business per year and $1.44 million per business over the life of the program.
  • The AITC Program sunsets on July 1, 2017.

Digital Interactive Media and Software Development Incentive

 

Louisiana's Digital Interactive Media and Software Development refundable tax credit — the strongest of its kind in the nation — is helping innovative digital media and software development companies of all sizes gain a competitive edge.

  • Provides a 25.2% tax credit on qualified payroll for in-state labor and 18% for qualified production expenses for expenditures through June 30, 2018, and a 35% tax credit on qualified payroll for in-state labor and 25% for qualified production expenses for expenditures on or after July 1, 2018.
  • No cap and no minimum requirement.
  • The tax credit is available for a refund of 100% of its value claimed on Louisiana state tax return OR certified applicants can receive 85% of the value earned as a rebate any time during the year.

Motion Picture Investor Tax Credit

 

Louisiana's Motion Picture Investor Tax Credit provides motion picture productions up to a 30% transferable tax credit on total qualified in-state production expenditures, including resident and non-resident labor. For productions using in-state labor, Louisiana offers an additional 10% payroll tax credit.

  • Provides up to a 40% transferable tax credit.
  • $50,000 threshold for local Louisiana productions meeting certain qualifications.
  • $300,000 minimum in-state expenditure requirement.
  • For fiscal years 2016-2018 the maximum amount of credits that can be claimed per fiscal year is $180 million.
  • Tax credits may be used to offset personal or corporate income tax liability in Louisiana.
  • Tax credits may be transferred to Louisiana taxpayers.
  • Tax credits may be transferred back to the State for 85% of face value; however, the state is not accepting transfers between July 1, 2015 and June 30, 2016.

Musical and Theatrical Production Tax Incentive

 

Whether you're launching a national concert tour or staging a new theatrical production, we'll help you hit your mark. Louisiana offers a unique tax incentive for musical and theatrical productions and state certified higher education musical or theatrical infrastructure projects.

  • Provides a 7.2% tax credit for certified Louisiana expenditures between $100,000 and $300,000.
  • Provides a 14.4% tax credit for certified Louisiana expenditures between $300,000 and $1,000,000.
  • Provides an 18% tax credit for certified Louisiana expenditures over $1,000,000.
  • Provides an additional 7.2% tax credit for payroll expenditures to Louisiana residents.
  • No cap on production expenditures.
  • The tax credit is refundable or transferable on a one time basis.
  • Additional tax credits are available when employing students enrolled in Louisiana.

Research and Development Tax Credit

 

The Research and Development Tax Credit encourages existing businesses with operating facilities in Louisiana to establish or continue research and development activities within the state.

  • Provides up to a 40% tax credit on qualified research expenditures incurred in Louisiana — with no cap and no minimum requirement.

Restoration Tax Credit

 

The Restoration Tax Abatement, or RTA, program provides an up to ten-year abatement of ad valorem property taxes on the renovations and improvements of existing commercial structures and owner-occupied residences.

  • Equipment that becomes an integral part of that structure can qualify for this exemption.
  • Acquisition cost of the structure or the land cannot qualify for this exemption.
  • Five-year contract; option for a five-year renewal with local governing authority approval.
 

Sound Recording Tax Credit

 

The Sound Recording Investor Tax Credit provides an 18% tax credit for sound recording projects made in the State of Louisiana.

  • Louisiana also offers some of the world's finest talent and great recording studios to complement the attractive financial benefits of recording in state. Sound recording investor tax credits are issued as rebates.
    • Provides an 18% tax credit on sound recording expenses.
    • Program is subject to a cap of $2.16 million between July 1, 2015 and June 30, 2018.
    • Starting July 1, 2018, program is subject to a cap of $3 million in tax credits per calendar year.

Technology Commercialization Credit and Jobs Program

 

The Technology Commercialization Tax Credit provides a 28.8% refundable tax credit for companies that invest in the commercialization of Louisiana technology and a 4.32% payroll rebate for the creation of new, direct jobs.

 

 

Special Programs for Small Businesses

 

Acadiana has a reputation for its innovative and resourceful entrepreneurial spirit. The following suite of special programs offers an impressive array of education, managerial, and financial programs in support of small business.

CEO ROUNDTABLES

 

Louisiana Economic Development's CEO Roundtables bring together groups of 15 to 18 key decision makers from Louisiana-based small businesses 10 times over the course of a year for collaborative, growth-oriented roundtable sessions that support a trusting environment in which CEOs can safely explore business and personal issues with the guidance of experienced facilitators.

  • Participation in the roundtables provides access to numerous benefits, including:
    • Peer-to-peer learning through discussion, interaction and the sharing of experiences that allow participants to learn from each other’s achievements and mistakes.
    • Support through highly qualified facilitators, expert guest speakers and connection to various small business resources.
 

Economic Gardening Initiative

 

Louisiana Economic Development's Economic Gardening Initiative provides Louisiana-based small businesses with the information they need to grow and succeed.

  • Through accelerated technical assistance and research, an experienced economic gardening team will provide customized services tailored to your business needs, including:
    • Review of core strategies, including threats and opportunities, business strategy and niche markets.
    • Business development opportunities through market research and qualified sales leads.
    • Improved internet presence by increasing your company's visibility and credibility within the market, and advice on how to best use technology to connect with customers.

Hudson Initiative

 

Louisiana's Hudson Initiative is a certification program that is designed to help eligible Louisiana small businesses gain greater access to purchasing and contracting opportunities that are available at the State government level.

  • Your business and contact information will be accessible to State purchasing officials and prime contractors looking for subcontractors.
  • State agencies are encouraged to get quotes from and use qualified, certified companies whenever possible.
  • For small purchases of less than $15,000, State agencies can waive the requirement of getting additional quotes if a certified company submits a quote that is reasonable.
  • 10% of the total evaluation points can be added to your bid on a Request for Proposal (RFP).
  • Prime contractors who use your business as a subcontractor on a bid for an RFP are also eligible to receive additional percentage points on their bid.

Small Business Loan and Guaranty Program

 

The Small Business Loan and Guaranty Program facilitates capital accessibility for small businesses by providing loan guarantees to banks and other small business lenders in association with the federal State Small Business Credit Initiative (SSBCI).

  • The program's purpose is to provide financial assistance, which will help with the development, expansion and retention of Louisiana's small businesses. The program is administered by Louisiana Economic Development through Louisiana Economic Development Corporation (LEDC).
    • Guarantees may range up to 75% of the loan amount, not to exceed $1.5 million.
    • Guarantee fee may be waived (determined by risk).
      • Loan Amount: $5,000 to $1.5 million
      • Maximum Guarantee: 75%
      • Minimum Equity Requirement: 15% to 20%
      • Application Fee: $0
      • Quick Turnaround for Loans: $500,000 or less

Small and Emerging Business Development Program

 

LED's Small and Emerging Business Development (SEBD) Program provides the managerial and technical assistance training needed to grow and sustain a small business.

  • Provides for developmental assistance, including entrepreneurial training, marketing, computer skills, accounting, business planning, and legal and industry-specific assistance.
  • Consideration for bidding on select products or services purchased by state agencies.
  • SEBD Intermediaries provide a free needs assessment and assistance with accessing other program benefits.

Veteran Initiative

 

Louisiana's Veteran Initiative (LAVETBIZ) is a certification program that is designed to help eligible Louisiana Veteran-owned and Service-Connected Disabled-Veteran-owned small businesses gain greater access to purchasing and contracting opportunities that are available at the state government level.

  • Your business and contact information will be accessible to state purchasing officials and prime contractors who are looking for subcontractors.
  • State agencies are encouraged to get quotes from and use qualified, certified companies whenever possible.
  • For small purchases (less than $15,000), state agencies can waive the required additional quotes if a certified company submits a quote that is reasonable.
  • 10% of the total evaluation points can be added to your bid on a Request for Proposal (RFP).
  • Prime contractors who use your business as a subcontractor on a bid for an RFP are also eligible to receive additional percentage points on their bid.

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