Snapshots of local, state, and federal incentives available in SWLA.
For more information about City of Lake Charles incentives, contact Lori Marinovich at (337) 491-1292.
Louisiana Economic Development (LED) Incentives
To apply for any LED incentive(s), an Advance Notification form and fees must be completed before any public announcement, start of construction, hiring, or purchase of equipment. Visit LED’s FastLane to register and apply for an Advance Notification.
FastStart: The nation's No. 1 workforce training program, FastStart creates customized employee recruiting, screening, and training solutions - at no cost to eligible companies.
FastLane: LED's real-time, searchable database for incentives data, FastLane manages the applications for select incentive programs.
Angel Investor Tax Credit Program: Provides a 35 percent tax credit for accredited investors contribute to businesses certified by LED as Louisiana Entrepreneurial Businesses. Investors are allowed to invest $720,000 per business per year, and $1.44 million per business over the life of the program.
Digital Interactive Media and Software Incentive: Provides up to a 25 percent refundable tax credit for Louisiana resident labor expenditures and up to a 15 percent refundable tax credit on qualified production expenditures.
Enterprise Zone Program: Provides a tax credit up to $3,500 per new, permanent full-time job and either a state sales/use tax rebate on qualifying expenses or an investment credit equal to 1.5 percent of capital expenditures, excluding tax-exempted items.
Industrial Tax Exemption Program (ITEP): With local approval, provides up to a 100 percent property tax abatement for an initial term of up to five years and the option to renew for up to three additional years at up to 80 percent tax abatement on a manufacturer’s qualifying capital investments.
Live Performance Production Program: Up to 25 percent tax credit for musical and theatrical productions, refundable, or transferable on a one-time bases.
Motion Picture Investor Tax Credit: Provides a tax credit of up to 40 percent on qualified production expenditures and an additional 10 percent tax credit for Louisiana resident labor expenditures.
Music Job Creation Program: A 10 percent or 15 percent credit on annual wages to qualified music industry-related companies that create a minimum of three well-paid net new jobs for Louisiana residents.
Quality Jobs: A cash rebate of up to 6 percent on annual gross payroll for new, direct jobs for an initial five-year term with an option for a five-year renewal. It can also provide a state sales/use tax rebate on capital expenditures or a 1.5 percent project facility expense rebate for qualified expenses.
Research and Development Tax Credit: A tax credit up to 30 percent for Louisiana businesses (based on employment) that conduct research and development activities in Louisiana.
Restoration Tax Abatement: A 100-percent property tax abatement for up to 10 years for the rehabilitation of an existing structure based assessed valuation of property prior to beginning improvements.
Sound Recording Investor Tax Credit: An 18 percent tax credit issues as a rebate on qualified expenditures for sound recording productions.
Special Programs for Small Businesses
Bonding Assistance Program: Provides bond guarantees up to 25 percent or $100,000, whichever is less, for qualifying contractors requiring surety bonds for public or private jobs.
CEO Roundtables: Peer-to-peer consultation gives executives the opportunity to discuss business practices and management strategies with other executives who deal with similar growth challenges.
Economic Gardening Initiative: Provides small businesses with accelerated technical assistance and research from an experienced national economic gardening team.
Hudson Initiative: Provides small businesses with greater potential for access to state procurement and public contract opportunities.
Louisiana Contractors Accreditation Institute: Provides information and training to help businesses expand their understanding of the construction industry.
Louisiana Veterans First Business Initiative: This program will allow for a veteran, active or reserve military, or Gold Star spouse who have a fifty-one percent ownership in a business to apply for and gain certification to recognize and promote their businesses. In addition, the program will create a searchable database for anyone seeking to patronize a veteran, active-duty or reserve military, or Gold Star spouse business.
Mentor - Protégé Recognition Program: Connects Louisiana-based small and emerging businesses to technical and developmental assistance provided by mentor companies.
Pathway to Assist Veteran Entrepreneurs: The Pathway to Assist Veteran Entrepreneurs program (PAVE) offers Louisiana veterans the opportunity to gain knowledge and skills that are necessary to effective start or manage a business.
Small Business Loan and Guaranty Program: Provides loan guarantees that may equal up to 75 percent of the loan amount, not to exceed a maximum guarantee amount of $1.5 million.
Small and Emerging Business Development Program: Provides developmental assistance, including entrepreneurial training, marketing, computer skills, accounting, legal, and industry-specific assistance.
State Trade Expansion Program (STEP): Provides financial awards to state and territory governments to assist small businesses with export development.
Veteran Initiative: Helps veteran-owned and service-connected disabled veteran-owned small businesses gain greater access to purchasing and contracting opportunities at the state level.
Federal Incentives in Louisiana
The Opportunity Zones program offers federal tax incentives to investors who make qualified equity investments in 150 designated Census tracts across Louisiana.
Southwest Louisiana has Opportunity Zones in Allen, Beauregard, Calcasieu and Jeff Davis Parishes.
For Assistance, contact Gus Fontenot
at (337) 433-3632