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, Advertisement 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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