La. tax credits induce Connecticut firm to relocate to N.O.

Isis Capital Management, a Connecticut investment firm that buys and restructures ailing software companies, is relocating its headquarters to New Orleans next month and bringing with it two small software companies it recently purchased and intends to rehabilitate, The Times-Picayune reports. “I’m from Louisiana, so it’s a nice story of a Louisiana guy returning home,” says Rodney Bienvenu, Isis’ managing partner. “But I’m doing it, honestly, because it makes the most economic sense for what we do. For us, it’s a low-cost place to do business, and on top of that we get incentives.” Bienvenu says he decided to move his 10-year-old company to New Orleans after learning about the state’s digital media and software incentive program, which provides tax credits on payroll and other expenditures to software firms. Bienvenu says it was impossible to pass up Louisiana after discovering the tax credit program’s effect on his company’s bottom line. The state has hoped to use the credits to poach business from other states and encourage startups to locate here. Read the full story here.