WORK
Business & Industry IncentivesINVESTMENT BASED CREDITS & INCENTIVES
LED FAST START
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.
Paul Helton
LED FastStart, Executive Director
[email protected] • 225.342.5543
Angel Investor Tax Credit
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% 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, 2021.
Marissa Doin, Program Administrator
[email protected] • 225.342.5883
RESTORATION TAX ABATEMENT
The Restoration Tax Abatement (RTA) program provides an up to 10 year abatement of ad valorem property taxes on the renovations and improvements of existing commercial structures and owner-occupied residences.
Five-year contract; option for a five-year renewal with local governing authority approval.
Becky Lambert, Program Administrator
[email protected] • 225.342.6070
RESEARCH & 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 30% tax credit on qualified research expenditures incurred in Louisiana — with no cap and no minimum requirement.
Shamelda Pete, Program Administrator
[email protected] • 225.342.5341
LOUISIANA QUALITY JOBS REBATE
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 of annual gross payroll for new direct jobs for up to 10 years.
– Provides a state sales/use tax rebate on capital expenditures or a 1.5% project facility expense rebate on the total capital investment, excluding tax exempted items.
Michaela Adegbe, Program Administrator
[email protected], • 225.342.3571
INDUSTRIAL AD VALOREM TAX
EXEMPTION PROGRAM (ITEP)
The Industrial Tax Exemption Program (ITEP) serves as one of the state’s strongest incentives for manufacturing investment and employment growth. Four out of every five states offer a similar program, which makes ITEP key to Louisiana’s ability to continue to win new jobs and capital investment. With local approval, provides an 80% property tax abatement for an initial term of five years and the option to renew for five additional years at 80% tax abatement on a manufacturers qualifying capital investments.
Kristin Cheng, Program Administrator
[email protected] • 225.342.2083
Film & Media BASED CREDITS & INCENTIVES
Digital Interactive Media & Software Development Incentive
Louisiana’s Digital Interactive Media and Software Development 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% tax credit on qualified payroll for in-state labor and 18% for qualified production expenditures.
– No cap and no minimum requirement.
– Tax credit can be applied to state income tax liability and the state will refund any overages OR applicants can opt for 85% of the value earned as a rebate any time during the year.
Eric Burton, Director
Digital Interactive Media & Software Development
[email protected] • 225.342.5340
ENTERTAINMENT JOB
CREATION PROGRAM
The Entertainment Job Creation Program provides a tax credit on annual W2 wages to approved entertainment companies (known as a Qualified Entertainment Company or “QEC”) that create well-paid jobs for Louisiana residents.
– The program provides a 15% credit for each new job whose QEC payroll is equal to or greater than $45,000 per year, up to $66,000 per year
– Provides a 20% credit for each new job whose QEC payroll is equal to or greater than $66,000 per year, but no greater than $200,000 per year.
Chris Stelly, Executive Group Director,
Entertainment & Digital Media
[email protected] • 225.342.5555
SOUND RECORDING PROGRAM
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. The Sound Recording Investor Tax Credit provides:
– A project based production credit of 18% for eligible production expenditures.
– Program is subject to a cap of $2.16 million per year. Projects are subject to a $100,000 cap, per year.
Lacey McRight Chataignier, Assistant Director
Live Performance & Music Industry Development
[email protected] • 225.342.5553
Music Job Creation Program
The Music Job Creation Program provides a tax credit on annual W2 wages to music industry related companies (known as a Qualified Music Company or “QMC”) that create well-paid jobs for Louisiana residents. The Music Job Creation Program provides:
– 10% Credit for each new job whose QMC payroll is equal to or greater than $35,000 per year, up to $66,000 per year
– 15% Credit for each new job whose QMC payroll is equal to or greater than $66,000 per year, but no greater than $200,000 per year
Chris Stelly
Executive Director of Louisiana Entertainment
[email protected] • 225.342.5555
MOTION PICTURE
PRODUCTION PROGRAM
For applications received after July 1, 2017, Louisiana’s Motion Picture Production Tax Credit program provides motion picture productions up to a 40% tax credit on total qualified in-state production expenditures, including resident and non-resident labor.
– Provides up to a 40% tax credit (25% base credit; 10% increase for Louisiana screenplay productions, 5% increase if outside of the New Orleans Metro Statistical Area).
– $50,000 minimum in-state expenditure requirement for Louisiana screenplay productions.
– $300,000 minimum in-state expenditure requirement on all other eligible productions.
– The maximum amount of credits that can be issued is $150 million per fiscal year.
– The maximum amount of credits that can be claimed is $180 million per fiscal year.
– Tax credits may be used to offset personal or corporate income tax liability in Louisiana.
– Tax credits may be transferred back to the State for 90% of face value (requires a 2% transfer fee which results in an 88% net).
Stephen Hamner, Division Director
Film & Television
[email protected] • 225.342.4838
LIVE PERFORMANCE PRODUCTION PROGRAM
Whether you’re launching a national concert tour or staging a new theatrical production, the Live Performance Production Program, statutorily known as the Musical and Theatrical Production Income Tax Credit, will help you hit your mark. Louisiana offers a unique tax incentive for musical and theatrical productions.
– Provides a 7% tax credit for certified Louisiana expenditures between $100,000 and $300,000.
– Provides a 14% 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% tax credit for payroll expenditures to Louisiana residents.
– Program is subject to a $10 million cap per year (with 50% or $5 million being reserved for not-for-profit organizations). Projects are subject to a $1 million cap, per year.
– The tax credit is refundable or transferable on a one time basis.
Lacey McRight Chataignier, Assistant Director
Live Performance & Music Industry Development
[email protected] • 225.342.5553
LOCATION BASED CREDITS & INCENTIVES
Downtown Shreveport Incentives
Historic Tax Credits – Federal and State Historic Tax Credits can return up to 45% of all qualified rehabilitation costs up to $5 million on many historic buildings in the Downtown Development District. The Downtown Development Authority (DDA) can walk you through the process.
– Low Interest Revolving Loan Fund – the Downtown Shreveport Development Corporation (DSDC) offers a low interest loan of up to $100,000 to those opening or expanding a business or rehabbing a historic building downtown. Some restrictions apply.
– Performance Code Assistance – the Downtown Development Authority works with the State Fire Marshal and City Building Officials to provide advice and assistance prior to plans being drawn and money spent. Equivalencies can be used to save money on life safety requirements and owners can be alerted to potential issues ahead of time.
– Construction Permit Fees Waived – Permits for work to a historic building in the Downtown Development District are waived for any building built prior to 1960.
Downtown Development Authority
318.222.7403
[email protected]
www.downtownshreveport.com
Louisiana Innovation Retention Program
The Louisiana Innovation Retention Grant program (IRG) provides supplementary state support for research-focused Louisiana small businesses that have previously received a federal Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) grant. The program, which was established by the Louisiana Legislature in 2022, seeks to:
- Help Louisiana retain STEM start-up companies and their talented workers;
- Demonstrate the state’s support for business innovation by supplementing the federal research dollars received by Louisiana small businesses;
- Increase the investment in research conducted during Phase I of the federal SBIR program, making Louisiana small businesses more competitive in the competition for Phase II funds;
- Encourage the establishment and growth of high-quality, locally owned and operated technology businesses throughout the state.
FEDERAL OPPORTUNITY ZONE
Opportunity Zones are a community development program established by Congress in the Tax Cuts and Jobs Act of 2017. The law provides a federal tax incentive for investors to re-invest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas. Shreveport-Bossier is home to 8 Opportunity Zones, including most of downtown Shreveport.
ENTERPRIZE 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:
– Either a one-time $3,500 or $1,000 tax credit for each net new job created.
– A rebate of state 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. The rebate shall not exceed $100,000 per net new job.
Joyce Metoyer, Program Administrator
[email protected] • 225.342.0485
FOREIGN TRADE ZONE
Imported materials/components into the U.S. pay no duty until they enter the market
– Goods shipped out of the country, from the foreign trade zone, are duty free
– Located at the Port of Caddo-Bossier & Shreveport Regional Airport