As one of Louisiana's targeted growth industries, Advanced Materials is playing an increasingly important role in the state's economy. In addition to the oil & gas industry and the petrochemical industry, Louisiana has long been a user of sophisticated advanced materials. Due to corrosion, high pressures, temperature extremes and harsh chemical environments, the right choice of advanced materials is essential to any given industry.

There are 60 employees in the Advanced Materials, with sales totaling $6,000,000.

Incentives

Quality Jobs

The Quality Jobs Program promotes economic development by encouraging businesses to create well-paid jobs.

• Requires an Advance Notification form.
• Must be in one of the following industry clusters: Bio-Science, Manufacturing, IT, Environmental Technology, Food Technology, Advanced Materials or Oil & Gas Field Service;
• Or, must have at least 50% of annual sales out-of-state;
• And, must provide a basic health care insurance plan. 

Tax Equalization Program

Tax Equalization Program attracts, retains and encourages the expansion of manufacturing establishments, headquarters, warehousing and distribution establishments to Louisiana that would not do so in Louisiana due to a higher tax burden.

• Must be a manufacturing establishment, headquarters or warehousing and distribution establishment planning an expansion;
• The competing site in another state must offer comparative advantages to Louisiana.

Restoration Tax Abatement

The Restoration Tax Abatement (RTA) Program encourages the expansion, restoration, improvement and development of existing commercial structures and owner-occupied residences in specified districts.

•  Requires an Advance Notification form.
• Applies to municipalities and local governments to develop existing structures in Downtown Development Districts, Economic Development Districts or Historic Districts. 

Industrial Tax Exemption Program

Industrial Tax Exemption Program  is Louisiana's original incentive program for capital investments.

• Special circumstances may require a Advance Notification form
• Applies to capital investments for new or existing Louisiana manufacturers only.

 Research & Development Tax Credit

Research & Development Tax Credit encourages existing businesses with operating facilities in Louisiana to establish or continue research and development activities within the state.

• Applies to businesses that encourage development, growth and expansion within the state;
• And, encourage new and continuing efforts to conduct research and development activities in the state. 

Technology Commercialization Credit & Jobs Program

Technology Commercialization Credit & Jobs Program is a tax credit awarded to companies for investing in commercialization of Louisiana technology and creating new jobs in Louisiana.

• Technology must be created by a Louisiana business and researched by a Louisiana university or college for commercialization;
• Technology must be created by a Louisiana university or college that is licensed by a Louisiana business; or technology must be researched by a governmental research center in Louisiana. 
• Must be a Louisiana manufacturer with facilities in the state; And, maintain current employment; And, commit to significant investment to continue doing business in Louisiana.

Competitors/Suppliers

326199 - All Other Plastics Product Manufacturing

326291 - Rubber Product Manufacturing for Mechanical Use  

326299 - All Other Rubber Product Manufacturing  

 Click Here to visit our Buildings and Sites Database.