Together Louisiana releases new analysis of industrial tax exemptions
In 2016, Louisiana granted $4.9 BILLION in ITEP exemptions — more than ever before
Download: “The Ship is Not Turning: Status update on Governor John Bel Edwards’ effort to reform the Industrial Tax Exemption Program”
- From 2000 to 2016, ITEP exemptions were approved at an average of $1.33 billion per year (real depreciated value)
- Under Governor Jindal, ITEP exemptions were approved at an average rate of $1.58 billion per year.
- In 2016, $4.9 billion in ITEP exemptions were approved, the highest in state history. The 2016 rate of ITEP approvals was 441% the annual average rate of approvals from 2000 to 2015 ($4.9 billion vs. $1.11 billion) and 665% the rate of approvals in 2008, Gov. Jindal’s first year in office ($4.9 billion vs. $1.11 billion).
- Most of the exemptions approved in 2016 were approved after the Executive Order went into effect, not before.
BREAKING: Gov. Edwards signs Executive Order overhauling Industrial Tax Exemption Program