Bold Business Incentives for Advanced Manufacturing
As the U.S. experiences an industrial rebirth, Louisiana’s highly competitive incentives are offering both new and existing manufacturers in the state significant advantages.
- For competitive projects that involve substantial new-job creation, major investment and the majority of sales to out-of-state customers, the Competitive Projects Payroll Incentive can provide up to a 15 percent payroll rebate over 10 years. Additionally, a participating company will be eligible for either a 4 percent rebate of state sales and use taxes on capital expenditures or a 1.2 percent project facility expense rebate.
- If not eligible for the Competitive Projects Payroll Incentive, manufacturers may still qualify for the Quality Jobs program, which provides up to a 6 percent cash rebate of annual gross payroll for new, direct jobs for up to 10 years. It could also provide a state sales/use rebate on capital expenditures or a 1.5 percent investment tax credit for qualified expenses.
- Louisiana offers the Industrial Tax Exemption Program, which provides up to 100 percent property tax abatement for up to eight years on an manufacturer’s new investment and annual capitalized additions.
- Louisiana’s Research and Development Tax Credit provides up to a 40 percent tax credit on qualified research expenditures incurred in Louisiana – with no cap and no minimum requirement.