Great Reasons to Do Business in Louisiana in 2014
By: Lenny Alsfeld
Success has been the word of the year for businesses in Louisiana in 2013, and next year promises to be even more successful. In the coming weeks, Secretary Moret will be sending you a message; however, I wanted to reach out to you before the height of the Holiday Season, to share some surprising facts you will find interesting about why Louisiana had such a successful year in 2013.
Louisiana: What You Don’t Know May Surprise You
The state of Louisiana has:
- The #1 state workforce training program in the United States
- The lowest tax burden for new manufacturing operations in the nation
- 12 months faster environmental permitting than the national average for major source air quality permits
- Up to 15% payroll rebate for qualified manufacturing projects
- The lowest industrial electricity rates in the Southern United States
- The finest, unrivaled transportation infrastructure
Why Do More Businesses Choose Louisiana Every Year?
- Louisiana offers unrivaled transportation logistics, including six class 1 railroads and six deepwater ports, including the number one port by tonnage in the U.S.
- Louisiana’s expedited permitting process averages six months compared to the nation’s 18-month average for major source air quality permits.
- According to the 50-state analysis by the Tax Foundation and KPMG, Louisiana ranks number two for lowest overall tax burden to new firms.
- Louisiana’s 2012 average industrial electricity rate was the lowest in the South and second lowest in the nation according to the U.S. Energy Information Administration.
- Louisiana’s Competitive Projects Payroll Incentive offers a payroll rebate of up to 15% for 10 years, which gives many manufacturing companies a substantial financial advantage.
- LED FastStart®, the nation’s Number One workforce training program, provides customized employee recruitment and training development – all at no cost to the company.
Businesses choose Louisiana for their vast incentives. In return, these businesses agree to hire local workers and pay them solid wages. This helps everyone in the communities where new businesses are located. Some businesses new to the area have a ready-made customer base in the industries in which they work. Others have studied the area and know that the products or services that they provide will be a good match for communities in Louisiana.
Louisiana Recruits New Businesses
The State of Louisiana facilitates growing, new, and existing businesses. With available workforce training and infrastructure assistance, the state makes an attractive venue for the launch or growth of businesses. Louisiana resources facilitate the procurement and standardization of major repairs, services and goods needed by agencies in the state, making them ready customers for new businesses.
Louisiana Workforce Commission
The Louisiana Workforce Commission (LWC) helps businesses to get the most from every dollar they spend. From worker training to tax incentives to online tools and job placement, the state offers solutions to save your business money and time when it comes to your workforce and operation. In addition to tax incentives and credits, the state of Louisiana offers fidelity bonding, on-the-job training, apprenticeships, foreign labor and work opportunity tax credits. Business is booming in Louisiana and next year looks even brighter.