Incentives
DDA Programming Mini Grants
The Downtown Development Authority (DDA) offers $250 programming mini-grants to organizations or individuals organizing events held in the Downtown District. The goal of the grant is to encourage festivals and events in downtown Shreveport. It is not intended to be used for fundraisers. Preference will be given to those public events that attract a diverse range of participation and promote the attributes of Downtown Shreveport.
For more information on this incentive, click here.
DSDC Low Interest Loan Program
DSDC is committed to assisting in the revitalization of downtown Shreveport. One of the ways we can help is through our low-interest loan program. This financial incentive is designed to provide rehabilitation funds to property owners and small businesses interested in renovating downtown’s older buildings.
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DSDC Facade Rebate Program / Operation Facelift
DSDC works to encourage renovation through its matching dollar for dollar rehabilitation program. Property owners can apply for a reimbursement grant up to $5,000 per building.
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Cultural District
State program that waives sales taxes on original art created in the cultural district, including paintings, drawings, photographs, video productions and wearable art and gives income tax credits for businesses in renovated historic buildings in the district.
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Federal Historic 20% Tax Credit
Available for properties certified as a historic building in the Downtown Shreveport Historic District or individually listed on the National Register of Historic Places. 20% credit is applicable to renovations and includes labor, materials and architects/engineers fees). Increased to 26% for parishes affected by Hurricane Katrina – costs incurred between August 28, 2005 – January 1, 2009.
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State Historic 25% Tax Credit
Available for properties in the Downtown Development District. The credit is calculated at up to 25% of the eligible renovation cost. Minimum eligible expenses must exceed $10,000. The tax is capped at $5 million per tax payer in a DDD. Tax credit can be carried forward for 5 years or sold to a third party.
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Restoration Tax Abatement (RTA)
Freezes property taxes at the base level before improvements, renovations or additions are made for a period of five years with a renewal opportunity for an additional five years. The RTA can be used in combination with the Federal Historic Preservation Tax Credit and the State Historic Preservation Tax Credit. Can be used for both commercial structures and owner-occupied, private homes.
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Enterprise Zone Program
Provides tax credits and sales and use tax refunds to businesses locating or expanding in designated enterprise zone areas. The business must create a minimum of five new permanent jobs and fulfill other criteria.
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Motion Picture Industry Development Tax Credit
The incentive program involves the rebate of state sales and use taxes to qualified, approved motion picture productions spending in excess of $1,000,000 in Louisiana
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Louisiana Music Tax Credit
Louisiana offers a Music Tax Credit of 25% on music performed, composed or recorded by a Louisiana musician and music released or published by a Louisiana company domiciled and headquartered in Louisiana
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Digital Media and Software Incentive
The Digital Media and Software Incentive provides a tax credit of 25% of qualified production expenditures for state-certified digital interactive productions in Louisiana and 35% tax credit for payroll expenditures for Louisiana residents.
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Solar Tax Credit
The Louisiana Solar Tax Credit applies to solar and wind energy systems including photovoltaics (Solar Electric), wind power, and Solar Thermal systems (Solar Hot water). The credit is good for 50% of the installed cost of the system and can be claimed for multiple systems until 100% of the home’s energy needs are addressed. Commercial owners of apartment buildings may claim the credit as well. In addition, the state credit is refundable so if your tax burden is less than the value of the tax credit, you get a refund.
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Waiver of Construction Permit Fees
The City of Shreveport will waive all permit fees for the renovation and rehabilitation of buildings or structures constructed prior to 1960. This waiver applies only to the Downtown Development District and does not exempt the applicant from obtaining all required permits, approvals, plans review, and inspections as required by applicable provisions of the Shreveport City Code.
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Pre-City Permit Inspection
The City of Shreveport Permits Department will perform inspections prior to purchasing and/or renovations. The inspections include zoning, plumbing, electrical, fire, and HVAC. The fee is $100.00 and if the renovation takes place then the fee does not have to be paid.
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City of Shreveport Economic Development Initiative Loan Program
The Economic Development Initiative (EDI) Loan Program assists eligible businesses with funding up to $300,000 for acquisition, new construction, equipment and/or working capital financing. The main goal of the EDI Loan Program is to increase access to capital and credit for businesses and entrepreneurs, and to provide employment and business opportunities for individuals from low-to-moderate income households.
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Brownfields Revolving Loan Program
The City of Shreveport has received a Brownfields Revolving Loan Fund Grant from the United States Environmental Protection Agency. The Grant is to offer low interest loans to help remediate contaminated properties in Shreveport.
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2010 Tourism Economic Indicator
Compiled by the Shreveport – Bossier Convention & Tourist Bureau
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