The North Webster Parish area
is a Federally designated “Renewal Community” and a
State of Louisiana designated “Enterprise Zone”,
these major designations along with the various
“worker training programs” and local incentives,
adds to an already industry friendly environment.
The following provides a brief description of the
major incentives available to the North Webster
Parish commercial/industrial residents. For a
complete list of incentives available please contact
North Webster Parish Industrial District management.
Federal – Business Incentives
The Federal Renewal Community
designation offers a number of new federal tax
incentives, including:
• Wage Credit:
Businesses can take a credit against Federal taxes
of up to $1,500 each year for 8 years for every
existing employee and new hire who lives and works
in the Renewal Community
• Increased
Section 179 Deduction: Businesses that qualify
as Renewal Community Businesses can claim up to
$35,000 in additional expensing for certain
depreciable property (such as qualified equipment
and machinery) purchased after 1/1/2002
• Commercial
Revitalization Deduction: Provides an
accelerated deduction period for commercial real
estate for qualified projects in the Renewal
Community involving new construction or substantial
rehabilitation.
• Zero Percent
Capital Gains Rate: Owners of qualifying Renewal
Community assets do not have to pay federal tax on
any gain when they sell the assets
State of Louisiana – Business Incentives
The State of Louisiana
Enterprise Zone Program
designation is a JOBS incentive program that
provides Louisiana income and corporate franchise
tax credits to businesses hiring new employees from
which 35 percent must be from one of four targeted
groups.
The Quality Jobs
Program provides both payroll and sales/use tax
rebates to encourage businesses to locate or expand
in Louisiana.
The Industrial
Property Tax Exemption abates, up to ten years,
local property taxes (ad valorem) on a
manufacturer's new investment and annual capitalized
additions.
The Incumbent
Worker Training Program’s Small Business Employee
Training Program (SBET) is designed to benefit
business and industry by assisting in the skill
development of existing employees through
individual, standardized (off-the shelf) training.
Employers are reimbursed up to $3,000 per trainee
for tuition and required textbooks and manuals once
the training has been completed and proper
documentation has been submitted to the Louisiana
Department of Labor.
