ADES » Topics » THE FACTS

This excerpt taken from the ADES 10-Q filed Nov 7, 2008.

THE FACTS

The Enterprise Zone (EZ) Program is a JOBS incentive program that creates Louisiana Income and/or Franchise Tax job tax credits (JTC) to a business hiring at least 35% of their net new jobs from one of four targeted groups. A business must create permanent net new jobs at the EZ site. A business is not required to be located in an EZ. Only if the job requirement is met, sales/use tax rebates or a refundable investment tax credit may be available. EZs are areas that the residents receiving public assistance is high. The Board of Commerce and Industry (Board) approves EZ applications. The Louisiana Economic Development (LED), Business Incentives Services (BI) administers this Program.

BI must receive an ADVANCE NOTIFICATION Form and a $100 fee PRIOR to hiring, starting project/ construction, receiving purchases, or installing equipment. Any activity prior to the receipt of the Advance Notification by BI is not eligible.

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