Traditional Louisiana industries benefit from Louisiana entertainment incentives
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How are the tax credits being used in the more traditional industries in Louisiana such as oil and gas, agriculture and tourism? Also, Louisiana has a booming tourism industry which includes major conventions-so, how can the state take advantage of these incoming convention opportunities? Last, how might a business executive obtain information about the programs?
In the last part of the interview with Chris Stelly, Executive director of Louisiana Entertainment, a division of LED (Louisiana Economic Development), Stephen Sabludowsky, publisher of Bayoubuzz and Stelly discussed these and other issues.
Below is a general summary of their discussions:
According to Chris Stelly, Louisiana is building an ecosystem that is attractive not only to the business but their employees. People move their families to places where there are things to do.
Technology tax credits are being used within the traditional industries in Louisiana. We are creating technologies for the oil and gas industry, creating software for safety measures precautions and tools to help discover natural gas reserves.
Also, we are using credits to help the food, agriculture and tourism industries. We want to create a landscape where we position ourselves for the future, so we’re not heavily dependent upon one industry.
Events such as the new technology venture capital-focused show, Collision, which was held in New Orleans last spring and which is returning next year, allows us to showcase ourselves with the tax credits and our industries. These major conventions, (whether they are Collision in New Orleans or the Louisiana International Film Festival in Baton Rouge or others throughout the state) allows us to share ideas, meet decision-makers, and for the economic development community to introduce themselves to these people and educate them about the opportunities of the tax credits and growth of culture and entertainment in Louisiana.
These events give economic development people an opportunity to ask the business leaders to move their locations to Louisiana. We can explain how we offer incentives that are very attractive, that we have a temperate climate year-round, a very low cost of living, a place where people can buy a bigger house, and obtain other necessities and amenities.
If someone wants to reach Chris Stelly, they can contact his office, go to the website at LouisianaEntertainment.org. The department will be glad to share information as to why Louisiana would be an attractive place to do business and to live.
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