The top 10 emitters of greenhouse gasses in Louisiana have paid more than $200 million in taxes to local jurisdictions, to which they would not have otherwise been subject, because of the
state’s decision to reform its industrial tax exemption program (ITEP) in 2016, according to data shared with The Lens by Together Louisiana, the statewide network of nonprofit and community organizations responsible for pushing the state to reform ITEP …
And far from discouraging industrial investment in the state, the ITEP reforms have coincided with increased capital investment in the state. Investments in ITEP-eligible property have increased 50% since Edwards implemented the reforms, compared to the five years preceding those reforms, according to the report.
Greg LeRoy, executive director at the nonprofit organization Good Jobs First, which is dedicated to responsible economic development, told The Lens the fact that increased business investments occurred in concert with increased tax revenue doesn’t represent a contradiction. LeRoy also spoke during the groups’ presentation in Baton Rouge earlier this month.
When you “start to restore better schools, better infrastructure, better public health, better public safety, that’s good for the business climate – that’s a confidence builder for investments,” LeRoy told The Lens. “I think it’s no accident that the economy’s been doing better since the reforms kicked in.”
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