Incentives

Economic Incentives

The message is clear, we want your business here in St.Mary Parish. Working in conjunction with Louisiana Economic Development, we can create a customized incentive package designed to meet your needs.

LED FastStart®

LED FastStart’s innovative, customized programs are available to companies that meet eligibility requirements and are aligned with Louisiana’s economic development targets, including:

 

  • Advanced and Traditional Manufacturing
  • Digital Media
  • Headquarters and Business Operations
  • Research and Development
  • Warehousing and Distribution

 

To qualify, a company must first commit to creating a net of at least 15 new, permanent jobs for manufacturing or distribution centers or a net of at least 50 new, permanent jobs for digital media, headquarters, R&D or inbound call center operations.

 

Each request is evaluated prior to project commencement to ensure all eligibility requirements are met.

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.

Industrial Ad Valorem Tax Exemption Program

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 80% of property taxes for the first 5 years with an option to abate another 80% for an additional 5 years, local property taxes (Ad Valorem) on a manufacturer’s new investment and annual capitalized additions related to the manufacturing site.

Restoration Tax Abatement

The Restoration Tax Abatement (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.

 

Five‐year contract; option for a five‐year renewal with local governing authority approval.

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.

Technology Commercialization Tax Credit

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.

Entrepreneur Incentives

We are proud that many of our largest employers and most successful companies also began their road to success right here. Entrepreneurship is part of our culture and heritage and we welcome the new ideas and new opportunities that an entrepreneurial culture brings.

Enterprise Zone

  • Either a one‐time $3,500 or $1,000 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. The 4% or 1.5% rebate shall not exceed $100,000 per net new job.

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:

Revolving Loan Fund

In cooperation with the South Central Planning and Development Commission, a Revolving Loan program is available to link small businesses to financing solutions. The program is designed to fill the gaps in financing not provided by conventional means and offers a fixed rate substantially lower than available commercial rates. The program is designed to assist expanding and new businesses. Amounts can be between $25,000 and $250,000. 

To qualify for this program, a business must be:

For profit

  • A corporation, partnership, or proprietorship
  • Located in one of the participating parishes
  • The program is primarily for existing businesses, but will consider new businesses, being started by proven entrepreneurs, with significant job creation potential

Loans are available for:

  • Take out financing for loans for plant construction, conversion, or expansion
  • Acquisition of land and/or buildings
  • Equipment and machinery repair and/or purchase
  • Furniture or fixtures purchase
  • Working capital
  • Starting fees and deposits
  • Inventory

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