Tax break for shippers at Louisiana ports
Louisiana Gov. Bobby Jindal signed legislation on Thursday that will give a $5 per-ton tax credit to qualified Louisiana businesses who import or export breakbulk or containerized cargo on oceangoing vessels through a public port authority in the state.
The legislation also encourages public-private partnerships to build port infrastructure projects, by providing a 5 percent annual tax credit for 20 years. Companies must invest at least $5 million in order to qualify for the tax credit program.
Allen J. 'A.J.' Gibbs, chairman of the Board of Commissioners of the Port of New Orleans, said the programs will benefit maritime commerce and public port authorities statewide.
'This legislation will help to create a positive atmosphere for existing and new international businesses and create new jobs in Louisiana. Now we have tools necessary to enhance our historic position in international trade by establishing new competitive advantages,” he said.