FOREIGN TRADE ZONE BENEFITS
Chennault is part of Foreign Trade Zone 87, so it is technically considered to be outside the territory of U.S. Customs. That can lower your cost of doing business by allowing your company to defer, reduce, or eliminate U.S. Customs duties.
Certain types of merchandise may be brought into the Chennault complex without a formal Customs entry, import quotas and most other import restrictions.
FTZ 87 has two zones:
General Purpose Zone.
Established for multiple activities by multiple users.
A special-purpose zone for use by one company for a specific activity.
Merchandise in FTZ 87 may be re-exported without customs duty if:
FTZ 87 users may be eligible for:
LOUISIANA ECONOMIC DEVELOPMENT
ANGEL INVESTOR TAX CREDIT PROGRAM
Provides a 25 percent tax credit on investments by accredited investors who contribute to businesses certified by LED as Louisiana Entrepreneurial Businesses. Investors can invest $720,000 per business per year and $1.44 million per business over the life of the program.
DIGITAL INTERACTIVE MEDIA
AND SOFTWARE DEVELOPMENT INCENTIVE
Provides up to a 25 percent refundable tax credit for Louisiana resident labor expenditures and up to a 18 percent refundable tax credit on qualified production expenditures.
Provides a job tax credit of up to $3,500 per certified net new permanent, full-time job and either a state sales/use tax rebate on qualifying expenses or an investment tax credit equal to 1.5 percent for qualified capital expenditures, excluding tax-exempted items.
INDUSTRIAL TAX EXEMPTION
With local approval, provides an 80 percent property tax abatement for an initial term of five years and the option to renew for five additional years at 80 percent tax abatement on a manufacturer’s qualifying capital investments.
Provides a cash rebate of up to 6 percent on annual gross payroll for new, direct jobs for an initial five-year term with an option for a five-year renewal. It can also provide a state sales/use tax rebate on qualifying expenses or a 1.5 percent project facility expense rebate for qualified capital expenditures, excluding tax-exempted items.
RESEARCH AND DEVELOPMENT TAX CREDIT
Provides up to a 30 percent tax credit on qualified research expenditures incurred in Louisiana—with no cap and no minimum spending requirement. Businesses can also receive up to a 30 percent tax credit under the following programs: Small Business Innovation Research Grant (SBIR) and/or Small Business Technology Transfer (STTR).
RESTORATION TAX ABATEMENT
Provides property tax abatement for up to 10 years for the rehabilitation of existing commercial structures and owner-occupied residences based on assessed valuation of property prior to beginning of improvements.
SMALL BUSINESS LOAN AND GUARANTY PROGRAM
Provides guarantees that may equal up to 75 percent of the loan amount, not to exceed a maximum guarantee amount of $1.5 million.