The Industrial Tax Exemption Program (ITEP) offers manufacturers locating or expanding in Louisiana a temporary, partial reduction of property taxes. Qualifying companies can receive up to an 80% break on property taxes for up to 10 years. ITEP serves as one of Louisiana’s strongest business assistance programs for manufacturing investment, encouraging new investment, modernization, and reinvestment.
Routinely recognized as one of the best workforce development programs in the country, Louisiana Economic Development (LED) FastStart is a primary driver of attracting new businesses and expansion projects.
FastStart customizes employee recruitment, screening, training development, and delivery, all at no cost to participating companies. FastStart is recognized as the gold standard for companies including Boeing, ExxonMobil, IBM, and Microsoft.
The recently announced FastStart Training Innovation and Development Center will soon house next-generation training development technology, including virtual and augmented reality and high-end video and animation, ensuring that Louisiana remains on the leading edge of workforce development.
Louisiana’s robust aerospace and aviation talent pipeline is a prime example of the power and sophistication of FastStart’s higher ed partnerships. At NASA’s Michoud Assembly Facility in New Orleans, Boeing is assembling the core stage of NASA’s Space Launch System (SLS) rocket for the upcoming Artemis moon missions with support from a workforce trained by Nunez Community College and FastStart.
FastStart’s higher ed programs aid a range of industries. It is continuously collaborating with education leaders to create programs that increase the number of students in computer science, software engineering, cyber engineering, and STEM-related advanced manufacturing. And it was instrumental in equipping every Louisiana Community and Technical College with HAAS 5-axis machining centers that offer hands-on training to students for manufacturing careers.
Long known as a stalwart for energy, Louisiana has begun diversifying the ways it helps fuel the world. The state has adopted an “all-of-the-above” approach, supporting its legacy producers in oil and gas through the energy transition while it diversifies the sector by supporting investment in lower-carbon alternatives and new emissions reduction technologies like carbon capture and sequestration.
Louisiana’s energy action plan exemplifies a long history of the state’s determination to develop the technologies, partnerships, policies, and programs that reinforce Louisiana’s preeminence as a pro-business state.