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NOTICE TO BUSINESSES AFFECTED BY THE DEEPWATER HORIZON OIL SPILL
The Gulf Oil Spill Disaster Adjustment Program (GOSDAA)
GOSDAA was established to provide assistance to service companies, manufacturers, retailers, and wholesalers located within 60 geographic miles from the coast/marshes of Louisiana that were impacted by the Gulf Oil Spill. For more information on the program, please read this document.
Economic Assistance and Incentives
New job creation is the cornerstone for many of the tax incentives offered by the parishes and the State of Louisiana. Any business (other than those involved in gaming, churches, or residential developments) who will be adding new permanent jobs, either full-time or part-time, may qualify.
Local Economic Assistance and Incentives
Business incentives are plentiful in Terrebonne Parish. TEDA provides assistance for all available incentive opportunities, as well as the research and application process for state, local, and federal tax abatements, credits, enterprise zones incentives, financing, and available grant funding.
If you are starting, thinking of relocating or expanding your business, please contact TEDA to learn about the advantages Terrebonne Parish has to offer. TEDA will be happy to provide assistance in researching and applying for all incentives available for your specific business.
Industrial Revenue Bonds
TEDA, Terrebonne Parish, and Strategic Allies have bonding authority and can be considered for such financing instruments when appropriate on a case by case basis.
TIF (Tax Increment Financing)
TIF allows a municipality to issue bonds to pay for part of the costs of a new development. Property tax revenue (and sometimes sales tax revenue) generated by the development is then diverted from the public coffers and used to pay off the bonds. The diversion usually lasts for at least 15 years and may last for as many as 30 or 40 years.
Revolving Loan Funds
Provides low interest loans for qualified borrowers to create jobs within Terrebonne Parish. Loans range between $25,000 and $250,000. There are two Revolving Loan Funds administered within the Parish, a local and regional fund. Each fund can be applied for simultaneously. The local RLF is administered through TEDA and the regional loan is administered through South Central Planning.
Utilities and Economic Development
Entergy Louisiana, SLECA (South Louisiana Electric Cooperative Association), and The Houma Power Company may offer economic incentives to some industries.
Incentives are negotiated with companies on an individual basis.
Foreign Trade Zones
FTZ sites offer the advantage of duty-free storage, assembly, or manufacture of foreign goods.
Merchandise entering the US from the FTZ site is subject to duty and quota; merchandise exported from the FTZ site is exempt from all US Customs duties.
Terrebonne Parish currently includes several FTZ sub zones for multiple organizations in various industries.
Export-Import City-State Bank Partner
TEDA has a strong partnership with Terrebonne Parish's high concentration of export-import international bank loan providers.
TEDA's Micro-Loan Incentive
Microloans are available for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment. For more information on TEDA Micro-Loan Program, please click here
Louisiana Cultural District and Historic Preservation Tax Programs
Beautiful downtown Houma is both a historic and cultural district, which allows for certain tax credits and exemptions from the state.
New Market Tax Credits
The NMTC Program enables Community Development Entities that receive an allocation of NMTCs to attract private-sector capital to support investments in businesses, including operating businesses, commercial real estate, and community facilities.
State and Federal Incentives
There are a number of federal and state incentives and programs available to local businesses. The incentives and programs include entertainment, job creation, performance-based, property
 improvement/restoration, research and development/technology, tax credit, tax exemption, and workforce assistance. Visit the Louisiana Economic Incentive Finder to locate incentives and programs for your business.
Louisiana FastStart Workforce Development and Training Program
Launched in 2008, Louisiana FastStart provides customized recruitment, screening and training to new and expanding, eligible companies -- all at no cost.
Recognized for its innovation, effectiveness and efficiency, Louisiana FastStart has quickly established a presence among workforce solutions programs nationwide. Based on a company's immediate and long-term workforce needs, the Louisiana FastStart team crafts unique programs that ensure workers are prepared on day one and beyond. The relationship between the Louisiana FastStart team and Louisiana companies is often multi-year, lasting until the final employee is hired and trained.
Click here for Louisiana FastStart overview and features.
 It is very important that you submit the Advance Notification form before beginning any Stateincentive program. Go to FASTLANE.com for instructions on how to file your Advance Notification.
State Entertainment Industry Incentives
Louisiana Entertainment offers incentive programs for film, music, interactive media, and live performance. These innovative programs compose a holistic package of entertainment incentives not found anywhere else in the United States. For more information on all of the innovative ideas in the Louisiana Entertainment Industry, click here.
Federal Incentives
Staff at TEDA are available to research and assistance with applicable federal programs. Programs are numerous and vary according to business models and product types. Visit with TEDA staff to discretely discuss your idea or business idea for more information on what may be available.
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