LED Provides Guide to Gulf Opportunity Zone Incentives

Released this week, through the lead sponsorship of Louisiana Economic Development (LED), is a compact and comprehensive business guide to federal and state incentives initiated in the wake of hurricanes Katrina and Rita. The Louisiana Gulf Opportunity Zone Business Guide, published in conjunction with Louisiana Business Inc. and other private-sector partners, offers large and small business owners and executives a valuable primer on navigating this set of investment programs – dubbed the most aggressive package of business incentives in U.S. history. “Louisiana has extraordinary opportunities for business development and expansion right now,” said LED Secretary Michael J. Olivier. “But navigating the Gulf Opportunity Zone and other incentive programs, which cover nearly the entire state, can be a daunting task. Through this guide, LED set out to produce a tool that highlights the most important aspects of these very technical programs, using maps and examples to bring them to life, making it easier for local as well as national businesses to take advantage of them.” The guide is composed of 14 parts, each detailing the components of the Gulf Opportunity Zone legislation, as well as other incentive programs, such as Renewal Communities and New Markets Tax Credit. Each offers an expert’s view on how the incentive works. Many sections feature “real-life” examples of how a company might apply the incentive. The guide was authored by experts in banking, law and accounting, including Regions Bank, Breazeale, Sachse & Wilson, LLP, Postlethwaite & Netterville and Andrews Commercial Mortgage. In addition to LED’s special mailing to 1,000 of the nation’s top businesses, the guides are being distributed through numerous industry and professional organizations across the state. The guide’s entire content is available online at gozoneguide.com. For more information, contact Jonnique Caldwell at jcaldwell@la.gov.