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| INDUSTRIAL
TAX EXEMPTION |
Any new manufacturing
establishment, or any manufacturing operation expanding its existing
Louisiana facility, is eligible to receive an exemption from state,
parish and local property taxes for a period up to ten years. The
exemption includes all buildings, machinery and equipment used in
the manufacturing process. Improvements to the industrial land are
also eligible for an exemption, but not the land itself. Companies
that qualify for Louisiana‚s industrial tax exemption can expect
to save the equivalent of approximately 10 percent of the cost of
exempt facilities.
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| ENTERPRISE
ZONES |
Louisiana's
Enterprise Zone Program is a package of tax incentives offered to
expanding and/or relocating companies in specifically designated
areas. Enterprise Zone incentives include a one-time tax credit
of $2,500 for each net new job added to the payroll. This credit
may be used to satisfy state income and corporate franchise tax
obligations. In addition, the company is eligible for a rebate on
4 percent state sales/use taxes on machinery and equipment used
in the business enterprise, and materials used in the business enterprise,
and materials used to construct or improve a building to house the
business operation. The local sales tax in Pointe Coupee Parish
eligible for rebate is 1.5 percent.
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| INDUSTRIAL
TRAINING |
Louisiana has
a strong industrial training program which is funded and operated
through a unique combination of state, federal and private sources.
The Louisiana Department of Economic Development coordinates a variety
of industrial training programs available to new and expanding manufacturers.
Depending on a company‚s needs, state funds are available to
recruit and screen potential employees, implement pre-employment
training programs, and provide on-the-job training. The Department‚s
staff has experience in setting up such programs for more than 400
companies in the last ten years. Many area companies have taken
advantage of Louisiana‚s Industrial Training Program during
expansion or relocation efforts. In 1990, the State of Louisiana
provided funds totaling $655,704 which were used to train 1,753
people for manufacturing jobs. Because of recent high unemployment
in Louisiana, the federally funded Job Training Partnership Act
(JTPA) program also provides a major source of training funds for
the state.
The Louisiana JTPA program is currently funded with an annual budget
of approximately $100 million of which approximately $60 million
is available of industrial training statewide. The Baton Rouge JTPA
Council, which includes Pointe Coupee Parish, has an annual budget
of approximately $9 million. More to come. |
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