Spurring Development

Federal business incentives for Louisiana and Mississippi.

• Gulf Opportunity Zone (GO Zone): $7.9 billion through tax-exempt bond financing for business development. $4.9 billion in Mississippi. *
• Accelerated Depreciation: 50 percent bonus in first year on income tax. **
• Major Projects Development Authority: Funding for land acquisition, development, planning, financing and construction.
• Quality Jobs Program: Rebates up to 6 percent of a gross annual payroll associated with new jobs.
• Governor's Rapid Response Fund: Financial awards for businesses with projects that can create and/or retain jobs.
• Retention and Modernization Program: Financial assistance and tax equalization to existing Louisiana companies for modernization.
• Louisiana Enterprise Zone Program: Provides tax credits and rebates including a $2,500 credit for each new permanent job created and a rebate of the state's 4 percent sales/use tax on the materials, machinery and equipment purchase.

*Bonds must be issued by Jan. 1, 2010.

**Projects must be completed by the end of 2008.

Source: Louisiana Economic Development Corp.