Landry removes job creation requirement from tax exemption program

According to a release, the changes include keeping the property tax exemption maximum limit at 80%, removing the job creation requirement and changing the approval process to a "one-stop-shop."

BATON ROUGE, La. (BRPROUD) — During the Louisiana Association of Business and Industry (LABI) annual meeting, Gov. Jeff Landry signed an executive order to make changes to the tax exemption program.

Landry served as the keynote speaker at the meeting, according to a release from LABI. Landry signed an order to make changes to the Industrial Tax Exemption Program (ITEP).

According to a release, the changes include keeping the property tax exemption maximum limit at 80%, removing the job creation requirement and changing the approval process to a "one-stop-shop."

​“As we look to grow and improve our business climate, the governor’s announcement sends a strong message to boardrooms across America that Louisiana is back open for investment,” said LABI President and CEO, Will Green. “For too long our state has not been in the discussion when it comes to out-of-state manufacturers deciding where to locate their facilities. We appreciate Gov. Landry’s decision to bring us back into the fold, and what a better place to make this announcement than at the LABI Annual Meeting.”

“The importance of this announcement cannot be overstated,” said LABI Board Chairman and co-owner of Advantous, Jason DeCuir. “We are pleased that the governor is taking this major step to bring major manufacturers, and their economic investment to Louisiana.”

ITEP is described as a tax exemption program that allows eligible companies up to 10 years of exemption from local property taxes, according to a report from Louisiana Economic Development (LED).

Latest news