Jindal signs tax credit bills.pdf by tongxiamy

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									                                                 Twin Engines is just one of several local
Jindal signs tax                                 companies that have benefitted from the
                                                 tax credit program, which has been in
credit bills                                     place since 2005.

                                                 In the last three years of the tax credit,
Written by                                       Louisiana has gone from having five digital
Mary Nash-Wood                                   media projects to 69, which Jindal
                                                 attributes to the incentive program as well
11:59 PM, Jul. 11, 2011|
                                                 as a skilled workforce.
Twin brothers Keith and Ken Hanson know
the difference Louisiana's digital interactive   The digital media tax credit program offers
media and software tax credit can make.          tax credits of 25 percent on qualified
                                                 interactive software production in
The Bossier City natives once believed they      entertainment, health care, engineering
had to leave Louisiana to pursue their           and other sectors.
dreams. Now, the twins are the founders of
Twin Engine Labs, a software development         Payroll expenses for Louisiana residents
company employing a staff of 15 in               engaged in that work can be eligible for a
downtown Shreveport.                             35 percent credit.

On Monday afternoon, the Hansons along           "We have the opportunity to establish a
with representatives from Moonbot Studios        leadership position in this industry," Jindal
and local government officials joined Gov.       said. "This is exactly the right time to renew
Bobby Jindal in signing the enhanced digital     this tax credit.
media bill into law. The tax credit is
available to businesses that develop             Because this is a high growth part, this is
products including video games,
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simulation/training software and social
media applications.

"We're two 25-year-olds who came back
here to Louisiana to create amazing jobs
with a fun company where we can iterate
on great ideas," Ken Hanson said. "Every
one of our employees are from here, and
we even got a couple of people we knew
who were programmers that had moved
away and we were able to bring them back
and pay them comparable to Dallas. We're
able to do that because of the tax credits."
exactly the right time for Louisiana to stand   Jindal said the tax credits could be a
up and show the rest of the country that        gateway to major industry breakthroughs.
these companies can grow right here."
                                                "We may see the next Google here. We may
                                                see the company that cures cancer right
In addition to the Digital Media and            here thanks to these incentives."
Software Act, the governor also signed the
enhancement and extension of the
technology commercialization and jobs tax
credit. The program, which offers tax
                                                 Related Links
credits of 40 percent on up to $250,000 a
                                                 Louisiana Economic Development:
year in research tied to Louisiana higher
education campuses, will now run through         Twin Engine Labs:
2017.
                                                 Moonbot Studios:

Those research companies also may apply          Embera NeuroTherapeutics:
for a six percent payroll rebate on qualified
jobs.

"This credit encourages our best minds on
campuses to take their ideas out of the
classrooms and research laboratories and
to commercialize and turn those ideas into
new business and new jobs right here in
Louisiana," Jindal said.

Ross Barrett, board chairman of Embera
NeuroTherapeutics, a pharmaceutical
company focused on treating a broad               Advertisement
range of addictions and obesity, said his
company determined two things were
standing in the way of Louisiana's success
in his industry.

"There were two things that stood out that
Louisiana needed: venture capital and a
stable business climate. I thank the
legislators today and I thank the governor
today for making a stable and proactive
business climate because it has attracted
not only my firm but it's attracting others."

								
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