Business and Tax Incentives
The following is a list of programs available to businesses moving to or expanding in our community. Click on the title for more information about each one. For even more information on these or any other incentives, please contact JEDCO at (504) 833-1881.
Enterprise Zone Program
The Enterprise Zone Program is a JOBS incentive program that provides Louisiana income and corporate franchise tax credits to businesses hiring new employees from which 35 percent must be from one of four targeted groups.
Quality Jobs Program
The Quality Jobs Program provides both payroll and sales/use tax rebates to encourage businesses to locate or expand in Louisiana.
Industrial Tax Exemption Program
The Industrial Property Tax Exemption abates, up to ten years, local property taxes (ad valorem) on a manufacturer's new investment and annual capitalized additions.
Restoration Tax Abatement Program
Commercial property owners and homeowners who expand, restore or improve an existing structure located in a Downtown Development District, Economic Development District or Historic District may qualify to have the ad valorem property taxes on substantial renovations and improvements deferred for up to 10 years. Jefferson Parish has several economic development districts on the east and west banks. Note: Requires advance notice be given to the Louisiana Office of Commerce & Industry.
Manufacturing Sales Tax Exclusion
Effective January 1, 2006 manufacturers located in Jefferson Parish no longer pay Parish sales and use tax (4.75%) on qualified machinery and equipment (M&E).
Inventory Tax Credit Program
Established in 1991, this program allows ad valorem taxes levied on business inventories to be credited toward state income and corporate franchise taxes. Manufacturers, distributors and retailers are eligible to receive a 100 percent credit of local inventory taxes paid. Taxpayer Services Division – 225-219-0102. For more information, visit www.rev.state.la.us.
Corporate Jobs Tax Credit
Any corporation that establishes or expands in Louisiana may qualify for a one-time tax credit ranging from $100 to $225 for each new job created. The credits can be used to satisfy state corporate income tax obligations, up to 50 percent of the tax liability. This program may be used in lieu of participation in the Industrial Tax Exemption or Enterprise Zone Program. For more information, visit www.rev.state.la.us.
Louisiana Entertainment Industry Incentives
Louisiana offers tax incentive programs designed to encourage motion picture, sound recording, musical and theatrical, and digital interactive media production in our state.
Customized Software Sales Tax Exemption
Companies purchasing certain customized computer software are exempted from paying the local Jefferson Parish 4.75 percent sales and use tax imposed on retail sales. The state of Louisiana's 4 percent sales and use tax exclusion for certain custom computer software. For more information, visit www.rev.state.la.us.
Biotechnology Sales Exemption
Biotechnology companies, as classified under the NAICS biotechnology category, will be exempt from all state and local sales/use taxes on purchases of new research equipment. For more information, visit www.rev.state.la.us.
Research & Development Tax Credit
The R&D tax credit encourages Louisiana businesses to invest in and increase their existing levels of R&D by offering tax credits against state income and corporation franchise taxes.
Technology Commercialization Tax Credit
The technology commercialization credit offers tax credits to encourage Louisiana businesses to commercialize research conducted at Louisiana universities and to promote job creation.
Jefferson Parish Renewal Community
The Renewal Community (RC) Program is an economic revitalization program that utilizes federal wage credits, tax deductions, capital gains exclusions and bond financing as inducements for companies to locate in a Renewal Community and to hire additional workers.
Angel Investor Tax Credit
Provides a refundable tax credit for early stages of investment in Louisiana-based start-up businesses by allowing an accredited investor to receive a 50% tax credit, divided into portions of 10% annually for five years, on personal income or corporate franchise tax liabilities owed to the state. Additional information is available at the Louisiana Department of Economic Development website.
New Markets Tax Credit
The New Markets Tax Credit program is designed to create investment into low-income, urban and rural areas to help finance community development projects, stimulate economic growth and create jobs.
Business Retention and Modernization Tax Credit Program
The Business Retention and Modernization Tax Credit program was created to induce businesses to remain in Louisiana and to modernize existing operations.
» Read more: Business Retention and Modernization Tax Credit Program
Clean Energy Business Tax Incentives
Beginning in 2007, the Louisiana legislature passed Act 371, which gives tax incentives for the purchase and installation of green technology.
