Latest news with #SusanBourgeois
Yahoo
6 days ago
- Business
- Yahoo
Gov. Landry, Louisiana leaders talk about Super Bowl economic impact
BATON ROUGE, La. (Louisiana First) — Louisiana leaders are set to talk about how Super Bowl LIX in New Orleans impacted the state's economy Tuesday morning. The New Orleans Super Bowl Host Committee, New Orleans Saints owner Gayle Benson, Secretary of the Department of Louisiana Economic Development Susan Bourgeois, and GNO Inc. will join Gov. Jeff Landry at the Capitol Park Museum in Baton Rouge. The news conference is scheduled for 10 a.m. Louisiana First News will provide a livestream in this article. The Philadelphia Eagles defeated the Kansas City Chiefs, 40-22, in the Big Game on Feb. 9, 2025. These New Orleans Super Bowls weren't played in the Superdome NCAA Super Regional schedule announced; see when LSU Baseball plays FDA elevates tomato recall in 3 states to highest level Watch: Masked man throws egg inscribed with 'message' at Cybertruck, owner says What to expect during the 2025 hurricane season | Tracking the Tropics Tariffs drive up U.S. auto prices by 2.5% Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
American Press
14-05-2025
- Business
- American Press
Jim Beam column:Tax breaks hard to eliminate
Louisiana legislators are addicted to handing out tax exemptions and they are trying to do it again.(metrocreativegraphics). Louisiana legislators love to give tax exemptions. The state gave away $7.5 billion of those exemptions in 2023, according to the latest figures available. The Advocate sized the situation up well when it said the state gave away $1 in exemptions for every $2 it collected in fiscal year 2023. While giving away $7.5 billion, the state collected $12.5 billion in taxes. The Legislature had some success in curbing those exemptions when it held a tax reform special last November, but that has been rare in recent years. The newspaper said it repealed the Quality Jobs Program and Enterprise Zone exemptions. Legislators reduced the cap on tax credits it gives for movie and TV productions from $180 million to $125 million per year and for investments in historic properties from $125 million to $85 million. In 2023, the state raised $4.5 billion in sales taxes, but it gave away $3.3 billion in exemptions. It sounds almost unbelievable, but the state had 218 state sales tax exemptions totaling $1.7 billion. The state had 95 individual income tax exemptions totaling $1.6 billion. It had 60 corporate income tax exemptions totaling $1.8 billion. Susan Bourgeois, secretary of Louisiana Economic Development, in an interview told The Advocate that investors care most about lower tax rates. A tax incentive, she added, 'closes deals, it doesn't get us deals.' While that is true, legislators still love to sponsor tax exemptions. During the current fiscal session, legislators have proposed over 70 new tax breaks. The newspaper said they insist new tax breaks or expansion of existing ones creates jobs and investment. State Rep. Les Farnum, R-Sulphur, doesn't buy that argument. 'Tax credits are the reason we're in the shape we're in financially,' Farnum said. He is a member of the House Ways and Means Committee that handles exemptions and Farnum in an interview said, 'We give away so much money. We have a host of brand new requests every year.' Thanks to the late-Rep. Vic Stelly, an independent from Moss Bluff, there are some tax breaks that benefit all citizens. A sales tax exemption for food purchased for home consumption totaled $584.5 million in 2023. An exemption for residential utilities totaled $251.3 million. And an exemption for prescription medications totaled $405.8 million. The $1.24 billion exempted for those three when they were approved in 2002 were paid for with higher state income taxes. Unfortunately, the Legislature reduced the income taxes in 2008 and the state experienced almost eight years of severe budget crunches. The late-Gov. Mike Foster called the Stelly Plan one of the most beneficial tax reform plans passed in many years. The three special exemptions are in the state constitution and the state's voters are unlikely to ever remove them from that special protection. The income tax that was raised in 2002 wasn't protected. The Advocate said the Tax Exemption Budget from the Louisiana Department of Revenue shows that legislators over the years have legalized a total of 564 tax breaks in the form of exemptions, deductions and exclusions from sales, income, corporate franchise and user fee taxes. The newspaper said Gov. Jeff Landry and legislators at last year's third special session had some luck ending or reducing tax exemptions. They want to continue to wipe out exemptions, but it's never easy. Former state Sen. JP Morrell, who is now president of the New Orleans City Council, in an interview during last year's tax reform session, said, 'We were unable (in 2017) to get traction. Every (tax break) constituency showed up, and they got to one or two legislators' to protect their favored tax breaks. Former state Rep. Julie Stokes, R-Kenner, tried to end some sales tax exemptions as chair of a special committee to do it, but legislators refused to support the effort. Judging from tax exemptions that were ended or reduced during last November's special session, legislators may finally be ready to end some of the costly tax breaks. However, we won't get a final answer until we see what happens to the 70 tax break bills that were filed for the current legislative session. Louisiana has the highest combined state and local sales tax in the country, so it's definitely time to end a large chunk of those existing 218 sales tax exemptions and lower sales taxes. Jim Beam, the retired editor of the American Press, has covered people and politics for more than six decades. Contact him at 337-515-8871 or Reply Forward Add reaction
Axios
11-04-2025
- Automotive
- Axios
What Waymo learning New Orleans' streets means for state business
When Waymo hit the streets in New Orleans, it was at least in part because the driverless ride-hailing company got invited here by state leaders. Why it matters: The move illustrates a strategy shift for how the state is doing business. The big picture: Under Gov. Jeff Landry appointee Susan Bourgeois, Louisiana Economic Development has been aggressively seeking new logos to enter the Louisiana market. Part of that work was obvious in January when a massive tent took over part of downtown to showcase the state's business opportunities for Super Bowl LIX visitors. There were flashy announcements for Meta's new data center and a White House press conference for Hyundai's new steel plant. And LED produced a new 40-page plan that amounts to a statewide strengths, weaknesses and opportunities analysis for new business. Zoom in: Waymo's self-driving cars have been learning the streets around New Orleans for weeks now. The backstory of how they ended up here is an interesting case study for the state's perspective shift. About a month after Josh Fleig took the job of chief innovation officer at LED last summer, he reached out directly to Waymo to ask about testing cars here. The goal, he said during a recent real estate outlook seminar at UNO, was to figure out what impact the company might have on local rideshare drivers before the cat was already out of the bag. What he says: "I know that's counterintuitive to say, 'Let me help you displace workers,' but … unless we get involved early with big tech companies trying to figure out these really existential questions, we'll be fully reactive, it'll be too late and the poor will get poorer," he said. "That is a very simple hypothesis," he said, "and that's how we want to treat automation." What's next: Waymo's cars, which do have drivers during the testing phase, will be on local streets for about another month, a rep tells Axios New Orleans. Go deeper
Yahoo
08-04-2025
- Business
- Yahoo
Gov. Landry to announce new major economic development
BATON ROUGE, La. (Louisiana First) — Gov. Jeff Landry and Louisiana Economic Development Secretary Susan Bourgeois are set to make an announcement Tuesday morning. They are going to make a 'major economic development announcement,' according to the governor's office. The announcement is scheduled for 10 a.m. at the Louisiana State Capitol. We will livestream the news conference in the video player above. Gov. Jeff Landry orders hiring freeze for state government to save $20M Boris Johnson pecked by ostrich Small plane skids off runway at Oregon airport, ends up in bay ICE agent impersonations spike in wake of immigration crackdown Gov. Landry to announce new major economic development Dow jumps to recover a bit of its steep losses Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Axios
05-02-2025
- Business
- Axios
How Louisiana will sell itself during Super Bowl
Louisiana economic development officials are hosting what they say is a first-of-its-kind effort to use the Super Bowl to attract new business to the state. Why it matters: Officials hope to connect with about 60 key people who could bring new business to the state this week, as the state puts on a full-court press to rewrite a narrative around doing business in Louisiana. What they're saying: "While we all know entertainers and sports figures come to Super Bowl, it's really a corporate America function, in many respects," Louisiana Economic Development secretary Susan Bourgeois tells Axios New Orleans. "The CEOs of major companies from around the country and around the world come to Super Bowl no matter where it is." "It's an incredible opportunity to use that audience who would come anyway and draw them in … using it as an opportunity to recruit potential projects, businesses and audiences to Louisiana." Zoom in: As Super Bowl fans head between the Ernest N. Morial Convention Center and the French Quarter this week, they'll see a massive tent in the Hilton Riverside parking lot that welcomes visitors to the Louisiana NOW Pavilion. Inside, life-size videos of Saints owner Gayle Benson and Gov. Jeff Landry greet visitors, as does a 15-foot replica of a NASA rocket, evoking the Michoud facility just down I-10. Additional video panels highlight state business, and a stage at the back will host Shreveport film studio owner and rapper 50 Cent on Friday. What we're watching: Bourgeois' team has two goals this week, she said. Give people a positive impression around "Louisiana and Louisiana opportunity." "The 'changing the narrative' piece is harder to measure," Bourgeois says, "but we'll feel it." Connect with as many people as possible on a list of about 60 invited targets, some of whom may consider business in the state for the first time, and some of whom are close to closing new deals. "Every person we're bringing in has an objective attached," Bourgeois says. Between the lines: Bourgeois believes Louisiana needs a reputation boost, too. Too often, she says, the national business community fails to associate innovation with the state. But "the Meta announcement doesn't hurt," she said of the new data center being built in the northern part of the state.
