Gov. Bobby Jindal’s bill-signing tour continued today at TraceSecurity headquarters in Baton Rouge, where he ratified a bill reviving the state’s dormant angel investor tax credit program through July 1, 2015. Officials say the tax credit spurred $62 million of investments in early-stage Louisiana companies from 2005 through 2009, and attracted more than 250 investors who helped 57 companies—including TraceSecurity—fund their operations.
Also today, at Sasol North America in Lake Charles, Jindal signed a bill extending the state’s “quality jobs” tax credit program through Jan. 1, 2018. The program grants payroll rebates of 5% or 6% for up to 10 years to companies that operate in one of the state’s targeted business sectors or that bring sales from out of state, along with a 4% sales tax rebate on capital expenditures or a 1.5% investment tax credit. About 30 companies a year qualify for the incentives, Jindal says.
Thursday at the Saenger Theatre in New Orleans, Jindal signed a pair of bills extending for four years state tax credits for restoring historic structures. Buildings in a downtown development or cultural district, or on the national register of historic buildings, are eligible for a credit equal to 25% of the cost of the renovation. “Preservation and old buildings are tools for downtown revitalization,” says Carolyn Bennett, executive director of the Foundation for Historical Louisiana. —David Jacobs
