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337-593-1400
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211 E. Devalcourt St.
Lafayette, LA 70506
USA
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Business Incentives

Lafayette, LA is a business-friendly environment, where leaders work together to ensure the success and prosperity of our community and our business base. There are several resources available in Louisiana that can give businesses that operate here an advantage. Below is a partial list of business incentives that are available. For more information, contact Mark D. Mouton, LEDA’s Director of Business Retention and Expansion.

 

Local Incentives

Restoration Tax Abatement
Grants a 5-year deferred assessment of the ad valorem property taxes assessed on renovations and improvements with an option for a second 5-year exemption to Commercial property owners and homeowners who expand, restore, improve, or develop an existing structure in a qualifying district. Administered by the Lafayette Parish Tax Assessor.

Industrial Property Tax Exemption
Provides new and expanding manufacturing operations with an exemption of local property taxes on new construction or additions to existing buildings and/or the purchase of permanently fixed equipment and machinery for a period of 5 years (with an additional 5 year option).

 

State Incentives

NOTE: A number of these programs require an Advanced Notification form and fee be submitted to Louisiana Economic Development (LED) prior to any construction, renovations, purchases, hiring of employees, etc. If you fail to submit this Advanced Notification, you will not be eligible to participate in the program(s). To find out more about the requirements, please click here.

Electronically file your Advanced Notification by registering with FastLane.

Quality Jobs
Provides a cash rebate as an incentive to encourage Louisiana Vision 2020 traditional and seed clusters industries to locate and/or expand existing Louisiana operations by creating quality jobs and promoting economic development. A construction project, combined with jobs creation, may result in a sales/use tax rebate or investment tax credit.

Enterprise Zone
A jobs incentive program that provides Louisiana Income and Franchise tax credits to a business hiring a minimum number of net new full-time employees. Fifty percent of these new jobs must be filled from one of four targeted groups. A business does not have to be investing money, just creating additional jobs. A construction project, combined with jobs creation, may result in a sales/use tax rebate or investment tax credit.

Industrial Property Tax Exemption Incentive
Louisiana's original incentive program, for capital investments, and is for manufacturers only (as identified by the federal government with NAICS codes that begin with 31, 32 or 33). It may be used by manufacturers new to the State as well as new investments and miscellaneous capital additions to existing facilities in Louisiana.

Modernization Tax Credit Program
Provides 5% refundable state tax credit for manufacturers making capital investment to modernize or upgrade existing facilities in Louisiana.