The Mentor-Protégé Tax Credit program provides technical and economic benefits to Louisiana-based construction contractors who will create or retain jobs for Louisiana citizens, expand the state's economy and increase available quality jobs. The program provides an incentive to established construction firms in Louisiana to mentor the development of protégé firms. Mentor firms can receive Louisiana Income or Corporate Franchise Tax credits of up to $50,000 per year by making technical assistance available to protégé firms. Following are the requirements for both Mentor and Protégé firms:
Mentor Firms
- Committed and able to provide professional guidance and support to protégés, which facilitates their development and growth, particularly in the critical areas of private and public procurements in construction.
- Demonstrates favorable financial health, including profitability for at least the last two years.
- Demonstrates the capability to provide managerial and-or technical skills transfer or capacity building.
- Capable of contracting with private and public entities.
- Is in "good standing" with the Louisiana Secretary of State and not in violation of any state statutes, rules or governing policies.
Protege Firms
- May not be an affiliate or related party of the Mentor.
- Certified active in the Louisiana Department of Economic Development's Small and Emerging Business Development Program or is registered in the state's Hudson Initiative- Small Entrepreneurship Certification Program.
- Is in "good standing" with the Louisiana Secretary of State and not in violation of any state statutes, rules or governing policies.
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