ANNOUNCEMENT 01 Jan 2016
The state government incentivizes investments through the discretionary granting of property tax exemptions.
NUMBER OF INTERVENTIONS
In 2016 the Commerce & Industry Board approved a deal with Sasol USA Corporation whereby the state of Louisiana will incentivize the construction of a new cracker plant (i.e., refinery) by providing a property tax exemption that is valued at $1,481,995,559 over a ten-year period (i.e., averaging $148,199,555 per year). The facility in question produces goods classified under item 325180 in the North American Industry Classification System (i.e., manufacturing basic inorganic chemicals except industrial gases and synthetic dyes and pigments).