The Quality Jobs program provides a cash rebate to qualifying companies that create well-paying jobs in Louisiana. Benefits include:
- A cash rebate of 5% or 6% of annual gross payroll for new direct jobs for up to ten (10) years.
- Allows for rebates of state sales and use taxes on building construction or renovation and on the purchase of materials and equipment utilized at the plant site.
- A potential rebate of a portion of the local sales and use taxes at the discretion of the political subdivision in which the enterprise is located.
Eligibility Requirements:
- The enterprise must be engaged in one of the following businesses:
Advanced Materials, Bio-Science, Environmental Technology, Food Technology, Information Technology, Manufacturing or Oil & Gas Field Services.
---OR---
- The enterprise must have at least 50% of its annual sales to out-of-state customers or, to in-state customers or buyers if the product or service is to be resold by the purchaser to an out-of-state customer or buyer or to the federal government.
---OR---
- Must be located in an area designated by the Louisiana Department of Economic Development as a Distressed Region. A Distressed Region shall be either a Parish that is among the lowest 25% of the Parishes in the state in terms of per capita income or in a Census Tract Block Group that is below the state average in terms of median per capita income based on the latest federal decennial census.
Minimum Annual Payrolls
There are minimum annual Louisiana payroll thresholds on the new jobs. For qualifying companies with less than 50 employees at the start of the contract, the minimum threshold is $250,000 per year. The threshold for qualifying companies with > 50 employees is at least $500,000 per year.
Companies cannot receive both the Quality Jobs and the Enterprise Zone incentives (see above).
|
