There are several economic advantages to being located on Caillouet Land Property. Below is a list of Economic Business Advantages that apply:
- Job Training Partnership Act
This program assists companies to select eligible applicants, provides them a training program customized to meet the company’s occupational skills, and reimburse the company up to 50% of wages paid during the training period.
- Ten Year Tax Exemption
The Louisiana Board of Commerce and Industry offers a program to exempt new or expanding manufacturers from property taxes on land improvements, buildings, equipment and machinery for a five-year period, with an additional five-year renewal. New jobs must be created.
- Vocational Education – Statewide Quickstart Program
Whether locating a new facility or expanding an existing one, Quickstart will design a program at no cost for companies that create at least 10 new jobs. Participating businesses will be working with the state-supported post-secondary Vocational Technical Institute nearest the plant involved.
- Corporate Jobs Tax Credit Program
New or expanding companies not located in Enterprise Zones can take advantage of a one-time tax credit ranging from $100 up to $200 for each net new job created. Benefits are $100 per new employee, and $200 per economically disadvantaged employee, and $225 per new employee residing in a neighborhood with unemployment of 10% or more. This program is offered through the Louisiana Board of Commerce and Industry.
- Enterprise Zone Program
Businesses who locate in an Enterprise Zone planning to create 5 or more jobs can qualify for incentives that include a $2,500 tax credit for each new employee hired and a sales tax rebate on equipment and machinery purchased for the business, or for materials used to construct or improve a facility. Application must be made before any expansion begins. This program is administered by the Louisiana Board of Commerce and Industry.
- Restoration Tax Abatement Program
The program grants a five-year deferred assessment of property taxes on improvements to structures located in economic development districts, downtown development districts or historic districts, that will be occupied by the renovating company. Administered by the Louisiana Board of Commerce and Industry, the commercial property owner pays ad valorem taxes based on the assessed value of the property for the year prior to the commencement of the improvements.
- Industrial Tax Exemption
100 percent property tax abatement for up to 10 years on a manufacturer’s new investment and annual capitalized additions.