The previously required Advance Notification and Application have been combined into a new form, The Project Application. Project Applications must be filed prior to beginning of construction or installation of facilities. The Project Application must be submitted electronically on the Louisiana Economic Development’s NextGEN portal of Fastlane website.
The Facts
The Louisiana Industrial Ad Valorem Tax Exemption Program (ITEP) is the original state incentive program, that offers a tax abatement on new manufacturing investments. It is available to qualifying new and existing Louisiana manufacturing businesses with the approval by the Board of Commerce and Industry and local ITEP committee, simultaneously the Project Application is sent to the Louisiana Department of Revenue (LDR) and the Louisiana Workforce Commission (LWC) for concurrent review. The program provides an 80% property tax abatement for an initial term of five years and the option to renew for five additional years at 80% property tax abatement on a manufacturer’s qualifying capital investment related to the manufacturing process in the state.
Businesses must be classified as a manufacturer or related to the manufacturing project at the project site in order to receive benefits of the ITE Program.
It requires local approval by the local ITEP committee comprised of the Jefferson Parish President, Jefferson Parish School Board President, the Municipal Council (if it applies) and the Jefferson Parish Sheriff.
JEDCO
LOUISIANA ECONOMIC DEVELOPMENT
Frank Favaloro
Business Incentives Services
Phone: (225) 342-5402
Email: FFavaloro@LA.gov
Website: LouisianaEconomicDevelopment.com
Hud Usie
Business Incentives Services
Phone: (225) 342-5399
Fax: (225) 342-0142
Email: hud.usie@la.gov