“The Louisiana Board of Commerce & Industry (BCI) took another important step for the future of the Capital Region. By efficiently approving several Industrial Property Tax Exemption Program (ITEP) applications and renewals today, the Board has provided certainty and predictability for companies looking to invest in the state of Louisiana and the Greater Baton Rouge area.
With the revised rules in place and processes working properly, companies such as those granted the incentive today, know the rules and clearer expectations under this process.
ITEP is an important incentive intended to bring investments to our state, including jobs, sales tax revenue and, even more importantly, economic growth. As competition across the United States and overseas increases, we need these types of programs in Louisiana now, more than ever.
Economic development programs like ITEP should remain an incentive for investment in Louisiana. By finally providing certainty and clarity, the roller coaster of ITEP 1.0, ITEP 2.0, ITEP 3.0 and all other iterations might finally be finished.”