Posted: Oct 24, 2012 6:17 PM by Kristen Holloway
Updated: Oct 24, 2012 6:43 PM
1 of 9 Amendments on the November 6th ballot aims to make Louisiana more "business-friendly."
The Acadiana Economic Development Council is encouraging voters to support an amendment on the November 6th ballot that will help create quality new jobs in Louisiana.
Here's what Amendment Number 8 would do.
It would provide partial property tax exemption for large corporate developments that are non retail and non manufacturing jobs.
For example corporate headquarters of a data center, digital media or a multi-state distribution center but because of the taxes, this type of business is not choosing to locate in Louisiana.
"We are looking at I-10 and I-49 as our next place for growth, and business will see this as attractive," said Jan Swift Executive Director of Lafayette Economic Development Foundation.
However some oppose Amendment 8.
"People are concerned that this just opens up another way for businesses not to pay taxes to the local areas," said Robert Scott President of Public Affairs Research Council of Louisiana.
Experts say Amendment 8 would enable Louisiana to land major job-producing investments we're not currently attracting.
"They'll be bringing job opportunities and it would be a big plus for our parish," said Swift Executive Director of Lafayette Economic Development Foundation.
Swift adds Amendment 8 would make Louisiana more competitive with other states in creating jobs. If Amendment 8 passes parishes would be able to opt out at their discretion but companies that were already receiving the tax breaks would continue getting the break.