ENTERPRISE ZONE

The Enterprise Zone program provides credits against Louisiana State Corporate Income Tax or Franchise Tax to a business hiring at least 35% of its new employees from one of four (4) targeted groups of Louisiana residents. Benefits Include:

• A one-time $2,500 tax credit per each new qualifying job created; and,
• The rebate of the state Sales and Use tax on materials, machinery, furniture and equipment.

--OR--

• A 1.5% Investment Tax Credit can be earned.

ELIGIBILITY REQUIREMENTS

• Must create a minimum number of jobs at the Enterprise Zone site.
• 35% of the net new jobs must meet at least one of the following criteria:
  
  -Residency within a defined Enterprise Zone; or,
  -Receiving some form of public assistance; or,
  -Lacking basic skills below the 9th grade level in reading, writing or math; or,
  -Be physically challenged.
• The definition of public assistance includes individuals who are referred to the employer through the Lousiana Workforce Commission and recent attendees of technical and community colleges.
• The new jobs must be created upon the start date of the project or of construction and either:
  
  -Result in an increase over the current workforce by 10% within the first
  12 months;
  --OR--
  -Create a minimum of five (5) new jobs within the first 24 months.

Businesses involved in gaming, churches or residential are not eligible.

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