The Louisiana Office of Cultural Development has approved a new cultural district that encompasses the LSU campus.
Renovation projects on historic buildings in such districts can qualify for state historic tax credits, while qualifying works of original art sold in a district are exempt from local sales tax.
“A cultural district enables LSU to invest in the arts, promote public engagement with related activities, and secure historic preservation within the district,” an LSU spokesperson told Daily Report earlier this year when the application was in the works.
There are 17 other such districts in the Capital Region.
About two-thirds of the state’s 124 districts reported data for 2022, according to the state Office of Culture, Recreation and Tourism, which oversees the program. According to CRT’s most recent annual report about the program:
- Districts reported 306 new businesses opened and net growth of 161 businesses.
- There were 72 tax credit applications completed last year.
- The estimated value of the exemptions in 2022 was about $25.8 million.
- In 2022, districts reported 2,951 events with almost 2.4 million attendees, up from about 2 million in 2019, the last pre-COVID year.
Three other new districts were approved that are in St. Martinville, Sulphur and Westwego.
“This program to revitalize our communities is literally proving that ‘culture means business’ by producing a solid return on investment for Louisiana with hundreds of new businesses opening in these districts and millions of people visiting them,” Lt. Gov. Billy Nungesser says in the announcement of the new districts.
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