Page 73 - FDI Alliance International Magazine. Spring 2021 Digital Interactive Issue

STATE OF GOVERNOR

LOUISIANA JOHN BEL EDWARDS

Louisiana is known as the Pelican State and is The three major commercial ports of Louisiana agribusiness companies include Boise Inc,
located in the Southeastern United States. On include the Port of New Orleans, the Port of Lamb Weston, Georgia Pacific, Hunt Forest
the Gulf of Mexico, it is bordered by the states South Louisiana and the Port of Baton Rouge. Android O. Martin Lumber company and
of Texas, Arkansas and Mississippi. The capital The port of New Orleans has the longest Southeastern Mills Inc. Louisiana has several
city is Baton Rouge and the Governor is John wharf in the world. It is two miles long and can programs to benefit new businesses. The LED
Bel Edwards. New Orleans is the largest city in accommodate up to 15 vessels at one time. FastStart, customizes employee recruitment,
Louisiana. The Portort of South Louisiana is the largest screening, train development and train delivery
tonnage port in the Western hemisphere. This for eligible, new or expanding companies with
Known for its diversity, there are many multicultural port handles nearly 60% of the exports leaving no additional costs. The Angel Investor Tax
influences of French, Italian, Haitian, Spanish, Louisiana and about 15% of all total US Credit (AITC), gathers accredited investors to
Native American and African cultures. It’s the exports. The port of Baton Rouge is the 10th invest in small wealth creating businesses that
different cultures that bring in quite a few tourists largest port in the United States. It is located at seek startup and expansion capital.
every year. The majority of tourists flock to the the northernmost part of the Mississippi River
New Orleans area for the food and music the and is capable of handling panamax ships. The Digital Interactive Media and Software
city has to offer. Program, is a program designed for helping
Many globally-recognized aerospace companies innovative digital media and software development
Ranking in the top 10 states for business climate are located in Louisiana. Such companies companies of all sizes gain a competitive edge.
in the US, the low tax environment offers include Boeing, Lockheed Martin, Metro Aviation, This plan provides a 25% tax credit on qualified
manufacturers significant cost savings. It ranks Western Global and Northrop Grumman. Many payroll for in-state labor and 18% for qualified
the lowest tax burden for new facilities, relocations aerospace companies benefit from such offers production expenditures. This program does not
and facility expansions for both capital-intensive as the industrial tax exemption program. This have a cap and has no minimum requirement.
and labor-intensive manufacturing operations. program provides property tax abatement for up to There are definitely different incentive programs for
Company cost can be reduced because of the 10 years on a manufacturer’s new investment and different types of businesses. The Enterprise Zone is
states low industrial electricity rates. annual capitalization edition. an incentive program that offers a maximum tax
credits of $1000 for each new job that is created.
Louisiana’s infrastructure offers many strategic Known for its agricultural growth and innovation, The Small Business Loan and Guaranty Program
advantages. There are six different interstate Louisiana provides many resources for emerging provides funding assistance via loans varying from
highways and six class 1 railroads for land use. and expanding companies. Some agribusiness $5,000 to $1.5 million.
Transport by sea is available at multiple ports and food processing industries include timber,
across the state. For air accessibility, there cotton, soybeans and sugarcane. The vast Louisiana is a state that offers advantages and
are seven primary airports and four airports waterways account for one-third of the nation’s benefits through various programs. There is a
across the state which offer foreign trade zone seafood supply. It is responsible for 90% of very strong infrastructure and a very dedicated
affiliation. the nation’s crawfish supply. Some well-known and skilled workforce.