The availability of incentives is prevalent through the state and local area of Livingston Parish. The goal of incentives is to encourage economic growth. The following incentives are include local incentive and state incentives.

LOCAL INCENTIVES

DIXIE BUSINESS DEVELOPMENT PROGRAM

ELIGIBLE applicants Any new and emerging company
PURPOSE of program To promote economic development by enabling companies to secure a foothold in their industry and the community while existing in a protected and educational environment.
BENEFITS of program Flexible, Affordable Space – Rental rates include basic services therefore eliminating the hassle of unexpected expenses often detrimental to new business enterprises.
Shared Office Personnel and Equipment – sharing eliminates the burden of paying individually for such services and maintaining office equipment and an extensive staff. Services and equipment include:
  • Answering service
  • Conference room
  • Copier and fax machines
  • Janitorial services
  • Telephone network
  • Receptionist
  • Personal computer

Networking Opportunities – The cooperative environment promotes and encourages networking among tenants.
Assistance in Obtaining Financing --The expertise of the facility’s manager benefit members by providing assistance in the foreign process of securing financial backing and assistance.
Management/Technical Assistance— Resources are available at the Center to provide managerial and technical assistance, as well as guidance in such critical areas as marketing, financial planning and personnel management.

For more information please contact: Dixie Business Development Center, 1810 Range Avenue, Denham Springs, LA 70726; call 225-665-0809; or email us.
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BIDCO INVESTMENT PROGRAM

ELIGIBLE applicants Louisiana corporation that has obtained preliminary approval of a license from OFI.
DOLLAR limit/ project
(LEDC Portion)
Match Program - $2,500,000
Co-investment Program $2,500,000
PERCENT of project cost Regular BIDCO
$1.00 for each $2.00 of private capital
Specialty BIDCO
$1.00 for each $1.00 of private capital
USE of funds Match Investment – to purchase stock or some other equity position in the BIDCO
Co-Investment – To buy a portion of an individual investment in a business that the BIDCO brings to LEDC
EQUITY required Regular BIDCO - $1,000,000
Special BIDCO -- $250,000 - $1,000,000
COLLATERAL coverage N/A
INTEREST rates Negotiated
TERM Negotiated
FORMS of financing Match -- Equity investment in a BIDCO
Co-Investment –
Equity investment in an individual business
For more information please contact: Dixie Business Development Center, 1810 Range Avenue, Denham Springs, LA 70726; call 225-665-0809; or email us.
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VENTURE CAPITAL INCENTIVE

ELIGIBLE applicants Louisiana venture capital funds, Louisiana business with investment from qualified venture capital funds.
DOLLAR limit/ project
(LEDC Portion)
Match Program - $5,000,000
Co-investment Program $500,000
PERCENT of project cost Mach Program -- $1.00 for each $2.00 of private investment.
Specialty BIDCO – ? of Venture capital investment round.
USE of funds Match Investment – To match $1 for every $2 of private investment in a Venture Capital Fund up to a maximum of $5million.
Co-Investment – To match up to ? of a venture capital investment round with a qualified Venture Capital Fund up to $500,000.
EQUITY required Match
Minimum -- $5,000,000
Co-Investment
Minimum -- $7,500,000
COLLATERAL coverage N/A
INTEREST rates N/A
TERM Negotiated
FORMS of financing An Investment made either directly into a qualified Louisiana Venture Capital Fund or as a co-investment made with a qualified Venture Capital Fund in a Louisiana small business.
For more information please contact: Dixie Business Development Center, 1810 Range Avenue, Denham Springs, LA 70726; call 225-665-0809; or email us.
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STATE INCENTIVES

INDUSTRIAL PROPERTY TAX EXEMPTION

ELIGIBLE applicants Manufacturing operations that are new to the state or are expanding their existing Louisiana facility. The facility must create or help retain employment, and it must be in the best interest of the state to grant the abatement.
PURPOSE of program To promote economic development secures and or increase employment opportunity.
BENEFITS of program Abates local property taxes (AD Valorem) on a manufacturer’s new investment and capitalized additions for up to ten years. The Abatement applied to all buildings, machinery and equipment, as well as other property, that is a part of the manufacturing process. The tax-exempt property must remain on the plant site at all times.
For more information please contact: Business Incentive Division, Louisiana Dept of Economic Development, P.O. Box 94185, baton Rouge, LA 70804-9185; call 225-342-9218 or Fax 225-342-5349; or email us web-incentives@lded.state.la.us
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RESTORATION TAX ABATEMENT

ELIGIBLE applicants Commercial property owners and homeowners, who expand, restore, improve or develop an existing structure in a qualifying district. Subject to approval by the local governing authority, the State Board of Commerce and Industry, and the governor.
PURPOSE of program Created for municipalities and local governments to offer as an incentive to encourage the expansion, restoration, improvement, and development of existing commercial structures and owner-occupied residences in downtown development districts, economic development districts, or historic districts.
BENEFITS of program Upon completion, Commercial property owners and homeowners may pay ad valorem taxes based on the assessed valuation of the property for the year prior to the commencement of the improvements.
For more information please contact: Business Incentive Division, Louisiana Dept of Economic Development, P.O. Box 94185, baton Rouge, LA 70804-9185; call 225-342-9218 or Fax 225-342-5349; or email us web-incentives@lded.state.la.us
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ENTERPRIZE ZONE PROGRAM

ELIGIBLE applicants Any new or expanding business in a designated Enterprise Zone.
Minimum of five new certified jobs must be created by the project within two years
Must occupy 33% of the total floor area of the building (some exceptions apply)
PURPOSE of program Improve the economy of specific areas of high unemployment, low income and/or where a large number of residents are receiving some form of public assistance. This is accomplished by encouraging new businesses to develop and/or expand with in these areas through incentives
BENEFITS of program Tax Credits
$2,500 tax credit for each new job created and certified during the first five years (additional $2,500 credit for employees receiving special aid).

Sales/Use Tax Refund
A rebate of State sales/use taxes on material used in the business’s new infrastructure within the construction period only.
Refund a portion of the local sales/use taxes is only available with a resolution from each governmental subdivision involved. (excluding taxes dedicated to schools or repayment of bonds)

For more information please contact: Business Incentive Division, Louisiana Dept of Economic Development, P.O. Box 94185, baton Rouge, LA 70804-9185; call 225-342-9218 or Fax 225-342-5349; or email us web-incentives@lded.state.la.us
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QUALITY JOBS TAX INCENTIVE PROGRAM

ELIGIBLE applicants Must be engaged in a basic industry.
Have an annual payroll for new direct jobs to equal or exceed $1,000.000 within three years.
Minimum of 80% of the new direct jobs must average twenty-five or more hours per week for the taxable period.
Within 180 days of qualifying for the program, a basic health benefit plan to new employees must be offered.
Cannot be engaged in certain gaming activities.
PURPOSE of program This Act provides an incentive to encourage certain basic industries to locate in Louisiana in order to promote economic development and the creation of jobs.
BENEFITS of program Incentive Tax Credits = (Net Benefit Rate) X (Gross Payroll of New Direct Jobs).
FEES Application Fee =
Estimated Total Incentive Tax Credit (NBR x 5Year Payroll) X .2% (.002)
Minimum Fee -- $200.00
Maximum Fee -- $5,000.00
For more information please contact: Business Incentive Division, Louisiana Dept of Economic Development, P.O. Box 94185, baton Rouge, LA 70804-9185; call 225-342-9218 or Fax 225-342-5349; or email us web-incentives@lded.state.la.us
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UNIVERSITY RESEARCH & DEVELOPMENT PARKS PROGRAM

ELIGIBLE applicants Must qualify as a park.
Must be a "concern" which is technology-based or innovative growth oriented and engaged in the development, manufacture, or sale of products that emerge from or depend upon the practical application of scientific or technological advances.
PURPOSE of program To encourage the establishment of research and development parks in Louisiana. Research & development parks will benefit the citizens of Louisiana. Parks will improve scientific information and technology and improve economic conditions and creation of jobs.
BENEFITS of program Exemptions from a portion of the following taxes :
a) the state corporation franchise tax
b) the state corporation income tax
c) Any other taxes imposed directly by the state on the applicant
For more information please contact: Business Incentive Division, Louisiana Dept of Economic Development, P.O. Box 94185, Baton Rouge, LA 70804-9185; call 225-342-9218 or Fax 225-342-5349; or email us web-incentives@lded.state.la.us
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