07/17 - Industrial Tax Matters
What has been the impact of the changes made to the tax exemption plan?
Until recently, large industrial businesses that relocate or expand in Louisiana were eligible for a five-year waiver of their local property taxes with a nearly automatic five-year renewal. Proponents of the Industrial Tax Exemption Program (ITEP) say it stimulates investment in the state and creates jobs. Critics of the program say that the tax exemption reduces resources for local taxing entities and services.
While the ITEP was championed by former Gov. Bobby Jindal, Gov. John Bel Edwards announced modifications to the program in 2016. What has been the impact of the changes made to the tax exemption plan? How effective is the ITEP in growing jobs? What has the program’s cost been to local communities? Louisiana Public Square explores these questions and more on “Industrial Tax Matters.“
Our panelists are:
- Wendy Aguillard, Calcasieu Parish Tax Assessor
- Broderick Bagert, Together Baton Rouge
- Greg Bowser, La. Chemical Association
- Sec. Don Pierson, Louisiana Economic Development
Barry Erwin, President of Council for a Better Louisiana (CABL) and member of the Task Force on Structural Changes in Budget & Tax Policy, will moderate the discussion.
The comments and opinions expressed in this program are those of the individuals and do not represent those of Louisiana Public Broadcasting.
This program is funded in part by Chasing the Dream: Poverty and Opportunity in America, WNET’s multi-platform public media Initiative that aims to provide a deeper understanding of the impact of poverty on American society. Major funding for this initiative is provided by The JPB Foundation. Additional funding is provided by Ford Foundation and the Annie E. Casey Foundation.
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Stephanie Cargille,Public & Government Affairs Manager with ExxonMobil Baton Rouge, contacted “Louisiana Public Square” regarding some inaccuracies mentioned during this month’s episode by the panelists. The following information is from her email:
“ExxonMobil been here since 1909 - Sec Pierson says 1910
Broderick mentions our Refinery site headcounts in 2000 and now. Here are the correct amounts:
1309 (2000) - 1283 (2017) - This amount includes natural attrition like retirement. There is also a current hiring class of 45 individuals underway for our Complex.”
We appreciate the clarification for our viewers.
Posted by Louisiana Public Square on 07/28 at 05:19 PM