Economic Assistance and Incentives
Business incentives are plentiful in Terrebonne Parish. TEDA provides assistance for all available incentive opportunities, as well as the research and application process for state, local, and federal tax abatements, credits and incentives, as well as financing and available grant funding.
If you are starting, thinking of relocating or expanding your business, please contact TEDA to learn about the advantages Terrebonne Parish has to offer. TEDA will be happy to provide assistance in researching and applying for all incentives available for your specific business.
The incentive evaluator is an interactive tool that allows businesses to quickly and efficiently discover which Louisiana incentives their business may be eligible for and their potential tax benefit from those incentives. You are in the right place if you are trying to find out the following questions:
- Am I eligible for any incentives offered in Louisiana?
- What is my potential tax benefit?
- What are my next steps to receive these incentives?
This tool is designed to have you answer the least amount of questions possible to determine your program eligibility. Your first step is to decide whether you want to be asked questions about all of Louisiana's incentives, or if you only want to be asked questions about a particular incentive. Choose the first option if you are unfamiliar with the incentives Louisiana has to offer, and choose the second option if you are seeking out a specific incentive. If you are determined potentially eligible for one or more incentive programs, you will then have the option to calculate your estimated tax benefit for those incentives. Keep in mind that your eligibility and tax benefit calculations are only estimates created by this tool for your convenience. However, there are instructions provided in each program's details section that will advise you as to which steps to take to apply for that incentive.
Industrial Revenue Bonds
TEDA, Terrebonne Parish and strategic allies have bonding authority and can be considered for such financing instruments when appropriate on a case-by-case basis.
Tax Increment Financing
Tax Increment Financing allows a municipality to issue bonds to pay for part of the costs of a new development. Property tax revenue (and sometimes sales tax revenue) generated by the development can then be used to help pay off the bonds and/or finance public improvements. Facilitated by TEDA, Terrebonne Parish judges each TIF application on a case-by-case basis.
Utilities and Economic Development
Entergy Louisiana, South Louisiana Electric Cooperative Association and Terrebonne Parish Consolidated Government's Utilities/Electrical Distribution Department may offer economic incentives to some industries, which are negotiated with companies on an individual basis. TEDA welcomes the opportunity to facilitate those discussions.
Foreign Trade Zones
Foreign Trade Zone subzones offer the advantage of duty-free storage, assembly or manufacture of foreign goods.
Merchandise entering the U.S. from the FTZ site is subject to duty and quota; merchandise exported from the FTZ site is exempt from all U.S. Customs duties.
Terrebonne Parish includes several FTZ subzones, facilitated by the Houma-Terrebonne Airport Commission.
Export-Import City-State Bank Partner
TEDA has a strong partnership with Terrebonne Parish's high concentration of export-import international bank loan providers.
Louisiana Cultural District and Historic Preservation Tax Programs
Beautiful downtown Houma is both a historic and cultural district, which allows for tax credits for historic renovations and restorations, as well as sales-tax exemptions on the sale of cultural products.
New Market Tax Credits
Terrebonne Parish includes some areas eligible for New Market Tax Credits, a financing tool to leverage private-sector capital in supports business investments.
Louisiana FastStart Workforce Development and Training Program
Launched in 2008, Louisiana FastStart provides customized recruitment, screening and training to new and expanding, eligible companies -- all at no cost.
Recognized for its innovation, effectiveness and efficiency, Louisiana FastStart has quickly established a presence among workforce solutions programs nationwide. Based on a company's immediate and long-term workforce needs, the Louisiana FastStart team crafts unique programs that ensure workers are prepared on day one and beyond. The relationship between the Louisiana FastStart team and Louisiana companies is often multi-year, lasting until the final employee is hired and trained.
Click here for Louisiana FastStart overview and features.
Entertainment Industry Incentives
Louisiana Entertainment offers incentive programs for film, music, interactive media, and live performance. These innovative programs compose a holistic package of entertainment incentives not found anywhere else in the United States. For more information on all of the innovative ideas in the Louisiana Entertainment Industry, click here.
Staff at TEDA are available to research and assist with applicable federal programs. Programs are numerous and vary according to business models and product types. Visit with the TEDA staff to discreetly discuss your business idea and which programs may be available.
Business.USA.gov is the U.S. government's official web portal to support business start-ups, growth, financing and exporting. It is designed to provide access to online resources and services of Federal, state, and local Government as well as those of non-profit and educational organizations supporting businesses.