GNO, Inc. launches Green N.O. Initiative

Economic development group Greater New Orleans Inc. wants to apply the model it used to launch the region’s digital media industry and apply it to businesses focused on sustainability.

Its Green N.O. effort will concentrate on spurring growth of businesses and jobs in areas such as construction, renewable energy, coastal restoration, disaster mitigation and water management.

“This is going to be a convening point for everybody involved in the sustainable industries,” said Michael Hecht, GNO Inc. president and CEO.

Similar to the Digital Media Alliance, Hecht said the initiative will market the industry, help craft policy that can grow businesses, work with universities to build a skilled work force and link business opportunities to local competitive advantages.

Hecht points to the state’s “Blue Ocean” economic development strategy that emphasizes creating a new market rather than competing with other regions for existing business. A Louisiana Economic Development study shows that a focus on green industry could create 90,000 jobs over 20 years in Louisiana, with most of those jobs landing along the coastline and in the New Orleans region, Hecht said.

Working in its favor for courting sustainable industry, southeast Louisiana has its experience from not only Hurricane Katrina but also the ongoing response to the Deepwater Horizon oil spill, Hecht said. In addition to compensation for damages from the disaster, the region is also positioned to take advantage of funding that would target businesses involved in mitigation.

“The fact is if we do this well, we’re also going to save our coast,” he said.

As part of the initiative, GNO Inc. has established a pilot program with Southeastern Louisiana University and the Northshore Community Foundation to offer a green curriculum at SLU. Students will be able to obtain green industry certification, putting them first in line for jobs in the sustainability field. The program could be refined and replicated at other institutions, Hecht said.

A Green N.O. meeting is scheduled for June 3 for individuals and companies interested in the initiative. Hecht said participants are expected to help set up a framework for the collaboration, noting that the first summit of the digital media version led directly to new business in the region.

More information on the meeting is available at http://gnoinc.org/programs-initiatives/greenno or by calling 527-6978.•

Three New Companies Added to Greater New Orleans Digital Landscape

Continuing upon the momentum that inspired Entrepreneur magazine to praise New Orleans as a "blueprint for economic recovery" in 2009, Greater New Orleans, Inc. is pleased to announce three business expansions to the region. Through work with GNO, Inc. and local partners, Los Angeles-based Graphite, Manhattan-based Orphmedia, and Baton Rouge-based RallyPoint have all established offices in New Orleans.

While GNO, Inc. continues to focus on fundamental sectors like trade and energy, these three firms collectively reflect the organization's additional effort to diversify the region's economy into creative and digital media. "The New Orleans Region is uniquely positioned to attract creative professionals," says GNO, Inc. President and CEO Michael Hecht. "With our combination of rich culture, inexpensive business conditions, and best-in-class incentives, Greater New Orleans is evolving into a creative professional hub that will soon be competing with -- and beating -- places like Austin, Seattle, and Montreal. The result will not only be more, better jobs, but also an infusion of fresh talent and energy for the region."

Graphite is a full-service brand strategy and design agency with a prestigious client list, including Nike, Red Bull, and Incase. Co-Founder and Creative Principal Andy Rosenthal sees great business potential in New Orleans, and is excited to contribute to the region's entrepreneurial growth. "Many people, especially entrepreneurs and cultural creatives, are coming to New Orleans because it offers an ideal blend of creativity, inspiration, opportunity, and quality of life -- unlike anywhere else in the country right now," he says. "As a native Californian with a company based in Los Angeles and clientele on both the east and west coast, New Orleans is an optimal location for our growing agency."

Orphmedia specializes in providing custom web design and online marketing strategies for restaurants. Based in Manhattan with operations in Los Angeles, the firm works with businesses both large and small, and touts top chefs such as Bobby Flay, Kent Rathbun, Michael Mina, and Wolfgang Puck among some of its best-known clients. Peter Orphanos, the firm's founder, has an ambitious vision for his business in New Orleans. "With more restaurants and chefs than ever before, New Orleans, in our opinion, has become the premier culinary capital of the South," he says. But the city's storied restaurant scene was not the sole reason for the firm's expansion. Orphanos has taken note of New Orleans' efforts to build anew, and, like so many other creative professionals who have descended upon the region, wanted to become involved in the city's rebirth. "New Orleans has demonstrated its determination to grow and create a new bright future for itself," says Orphanos, "and Orphmedia wants to be a part of that."

RallyPoint is a crisis communications and workforce continuity provider. Drawing upon lessons learned in the chaotic aftermath of Hurricane Katrina, the company works with clients to ensure secure, uninterrupted communication at all levels of an organization in times of crisis and disaster. Claude Bethea, Founder and CEO of RallyPoint, sees the New Orleans region as an ideal fit for his business. "The need for better methods of communication and organization of information between public and private entities before, during, and after a disaster is quite evident, and what better place to build our company than from a city with such a great need," he says. The firm is also the first member of GNO, Thinc, a new offering of GNO, Inc. to provide competitively-priced Class A office space for firms exploring a move to the region. According to Bethea, GNO, Thinc has been instrumental in facilitating the company's expansion: "GNO, Thinc has been a blessing for us as we move forward in protecting and serving the 'Greatest' city in Louisiana."

The arrival of the three firms highlights a rapidly emerging creative and digital media presence in New Orleans. As co-founder and chairman of Trumpet, a New Orleans branding agency that also launches startups through its ventures unit, Robbie Vitrano has helped drive the new entrepreneurial culture of the region. "Wynton Marsalis famously said that New Orleans is 'where elegance met an undefined wildness to encourage the flowering of creative intelligence.' Our creative culture -- that gave birth to a signature cuisine, architecture, music, and an unmistakable celebration of humanity -- perhaps in the context of the last four years, perhaps for the first time, is being fully optimized as an economic multiplier," he says. Vitrano, who also co-chairs GNO, Inc.'s Creative Media sector, believes that the significance of continued development in New Orleans' creative and digital media industries stretches beyond the region: "The capital and emotional investment by these creative industry firms is validating New Orleans as an innovation laboratory in a national and global economy seeking reinvention."

By Darren Alberti of Greater New Orleans Inc

Electronic Arts Acquires Playfish

The State of Louisiana's economic development department has been trying to persuade Electronic Arts to relocate to or open a new game design studio in Louisiana. EA has already located a game testing center at Louisiana State University, and the state would like to expand EA's presence. Louisiana's digital media tax incentives program was originally focused on attracting game development companies to Louisiana like EA.

Unfortunately, the slow down of the national economy has worked against Louisiana's efforts as EA has seen its own business difficulties during the past year. 

Nevertheless if the State of Louisiana wants to remain attuned to EA's vision of the future of video game development, the State should note that EA has just announced its intention to purchase Playfish, a social game company. See the San Francisco Chronicle article on November 10, 2009 entitled, EA buying Playfish in $300 million deal.

If you are not familiar with social games that have grown out of platforms like Facebook, I found a pretty good definition of social games and also a good list of social game developers on The Social Times Blog in an entry entitled, "What are social games?"

The various economic development arms of Louisiana and its cities should consider efforts to attract social game developers to Louisiana. If they are successful, they might find that EA is not far behind.

Erich P Rapp.

 

 

More on Sony's New E-Reader

I realize that I may be overly focused in this blog on e-publishing, but I think this technology is ground breaking in a number of ways. An e-book reader encompass a number of important trends in technology hardware and software.

The equipment, an e-reader, is highly specialized in contrast to a notebook computer which may perform many different functions. As various aspects of hardware such as memory chips, storage, display technology, etc... decline in cost and shrink in size, the economics of highly specialized hardware improves. Any e-book reader is an expression of that fact. The continuing evolution of highly specialized hardware and software is very important. It reduces the complexity of using the technology and broadens the potential user base.

An e-book reader generally also uses mobile phone technology instead of Wi-Fi or broadband internet access to the web. Mobile phone technology access to the web is an extraordinarily important aspect of web connection. As a result, the user of e-book reader technology can access and purchase e-books from nearly any location. This approach to product delivery is extraordinarily important to any one trying to a make an electronic consumer sale of published materials.

The main players in this arena are Amazon and Sony. Amazon's Kindle 2, the market leading e-book reader, is competing with Sony's new e-book reader which has just been announced as an open format e-book reader using the e-Pub format. The new Sony reader is called the "Daily Edition." The USA Today had a great article in its Tuesday August 26, 2009 internet edition as part of the technology section. This article described what Sony is trying to do with its new e-reader. The article is entitled, Sony's Reader Daily Edition takes on Amazon's Kindle. In a very exciting aspect of Sony's announcement, the new Daily Edition will be able to download content in the e-Pub format from many libraries around the country for free. The Sony e-book reader is using AT&T's 3G network while Amazon is using Sprint's mobile phone network.  

The e-book reader regardless of who creates it is a college student backpack size reducer and a business person brief case size reducer. Such e-book readers are having an evolutionary impact on the future of print media. Now that the technology is mobile and is contained in a compact and easy to us device, the growth of e-publishing is going to be explosive and game changing.

Erich P. Rapp.

 

 

Siggraph 2009 is in New Orleans

 The 36th International Conference and Exhibition on Computer Graphics and Interactive Techniques is ongoing in New Orleans from August 3 to 7, 2009.  The Siggraph Conference is being held at the New Orleans Convention Center and details about the program can be found on the web at the conference web site. For more information on Louisiana's digital interactive media tax credit program, please go visit the exhibits presented by the Louisiana Department of Economic Development, Greater New Orleans, Inc. and the Baton Rouge Digital Industries Consortium. 

Erich P Rapp.

Venture Capital and Louisiana's Digital Interactive Media Incentives Program

The Wall Street Journal on Monday July 6, 2009 had a Page C-1 story entitled, Venture-Backed Start-Ups Seek Stimulus. The gist of the story was that venture funds like Novak Biddle Venture Partners, RockPort Capital Partners and Flywheel Ventures were directing the start-ups they are investing in to explore the federal stimulus package as a means of finding additional capital.

This story suggests to me that venture capital funds and angel investors would find Louisiana's new digital interactive media tax credit incentive program very attractive. Marketable tax credits are not much different in economic terms than stimulus program grants. A start-up developing a web platform, mobile application or software package can get marketable tax credits equal to 35% of the funds they spend in Louisiana on labor residing in the state and 25% of all other expenditures.

If, for example, a start-up used labor residing in Louisiana to develop a new web platform and in the process spent $1,000,000 in Louisiana. The State of Louisiana would issue tax credits for $350,000 and the start-up could sell the tax credits for $0.85 to $0.90 on the dollar realizing perhaps a little more than $300,000 in extra funds. Thus, a venture capital fund investment of $1,000,000 spent on labor residing in Louisiana becomes an investment of $1,300,000.  That seems like stimulus that a venture capital fund or an angel investor would like to see.

Erich P Rapp.

Creating An Orderly Market for Louisiana Tax Credits Transfers

I am very concerned about the market for transferable Louisiana Tax Credits after reading about the problems that members of the New Orleans Saints have had. See Ex-Saint Kevin Houser says tax credit fiasco not his fault

Louisiana needs a "Tax Credit Exchange." I will propose to the membership of LISTA that they advocate the creation of a non profit corporation (need to check with my tax attorney friends on this concept) to operate a Tax  Credit Exchange that would make a market for certified tax credits and various grades of contracts to deliver tax credits at a future date.

The paper work and related contracts would be uniform and the status of the contracts would be verified with the appropriate arm of Louisiana government.  If the contract involves little more than a "hope and a prayer" that the person entering into the contract will apply for credits and undertake a creditable business venture in the future, those credits will be deeply discounted and the purchaser will understand that he is purchasing a very speculative contract.

Alternatively if the purchaser decides to buy an existing tax credit that is certified by the state, the value of that credit will be much less significantly discounted. The customers in the market will be better educated about what they are buying, and the process of selling the credits into the market will be orderly and uniform.

I will be reaching out to people with expertise useful in the creation of such a market in the weeks ahead. If you have such expertise and want to help create an orderly market for tax credits in Louisiana, I am looking for your help.

If you think I am making a mistake with this recommendation, I would also like your input. I think we need a more orderly market that discourages the type of problems the New Orleans Saints players have had (but for the grace of god go I), but I want to know what y'all think. I want to start a discussion of the problem. Please write comments on this blog entry and send me email correspondence with your thoughts on this subject.

I am very open to discussion about this subject. Please comment.

Erich P Rapp.

Senate Bill 277 Sent to Governor & Next Steps for LISTA

Senate Bill 277 concerning digital interactive media has been formally sent to the Governor for his signature on Thursday June 25, 2009. We hope that the Governor will act soon on this important piece of legislation.

Unfortunately, a proposed amendment to the new digital media program allowing a digital media tax credit recipient to have the state convert the tax credit to cash at $0.90 on the dollar did not complete the legislative process on Thursday before the formal deadline for adjournment. This concept was presented to LISTA by the Baton Rouge Area Chamber of Commerce. We felt this option was an excellent addition to the program proposed in SB 277. LISTA regrets that this amendment was not adopted by the legislature as a whole. We will review this concept again in two years at the time of the next Louisiana fiscal legislative session.

In the coming weeks, the original members of LISTA will meet to discuss the future direction of the organization. One of my first proposals to the membership will be opening membership up to a broader group of interested people and companies. The original members were asked to make substantial financial contributions in order to get the organization started. I will now propose to the membership that the average cost of membership be reduced significantly and that the organization make efforts to enlist many new members.

As with any government sponsored business incentives program, the new digital media program will not survive unless it is beneficial to the state as a whole. Determining whether the program is successful requires an expert in economics and financial analysis to review and analyze all of the available relevant data. I would like to see LISTA join with other economic development agencies and organizations in Louisiana to sponsor a university professor's effort to track all available data on the digital media industry in Louisiana from July 1, 2009 and forward to determine whether the digital media act is fulfilling its potential for the state.

I would also like to see LISTA and such a university professor track the geographical distribution of the beneficiaries of the digital media act in the state. Our goal at LISTA is to encourage and support growth of digital interactive media businesses throughout the state. We thus want to know the extent to which this goal is being fulfilled.

The new digital media program will also lead to the adoption of related rules for the administration of the program by the Louisiana Department of Economic Development. LISTA and its members will actively participate in and comment on the development of such rules. 

Additionally, LISTA and my law firm, Kean Miller, will undertake a series of presentations inside and outside of the state on the use of the digital media tax credit program. Further still, LISTA and Kean Miller will begin offering educational seminars on topics of interest to the digital media community. 

Again, I offer my thanks to all of the people who assisted with the adoption of SB 277. It has been an educational and ultimately gratifying experience for me.

Erich P Rapp.   

Louisiana Senate Concurs on House Amendments to SB 277

The Louisiana Senate has concurred on the amendments to Senate Bill 277 from the House of Representatives. The formal legislative process is complete.  SB 277 now goes to the Louisiana Governor for his signature. Please send messages and make phone calls to the Louisiana Governor's office urging the Governor to sign SB 277.

Assuming that Governor Jindal signs SB 277, the new digital media program is a game changing event in the history of the Louisiana economy. I suggest to you that the impact of this event on the Louisiana economy over the next ten years will rival the impact of sugar and cotton agriculture in the early 1800's and the discovery of oil in Louisiana in the early 1900's.

Louisiana is about to enter the digital media revolution in a dramatic way.

Erich P Rapp.

Senate Bill 277 on Digital Interactive Media Tax Credits Passes House

The Louisiana House of Representatives passed Senate Bill 277 re digital interactive media tax credits today. The bill must now return to the Senate for a concurrence vote on the House amendments. If the Senate concurs on the House amendments, the bill will be sent to the Governor for his signature.  Thankfully, Senate Bill 277 received a favorable vote in the morning.

The successful passage of SB 277 will allow a wide array of software and web platform development projects to earn 25-35% marketable/transferable tax credits on the cost of production of such software and web platforms. This program will likely result in a material increase in the value of software and web platform development in Louisiana. SB 277 is authored by Senator Ann Duplessis and supported by the Louisiana Internet Software and Technology Association (LISTA), Greater New Orleans, Inc. (GNO, Inc.) and Baton Rouge Area Chamber of Commerce (BRAC).

In the mid-afternoon after SB 277 had successfully passed the House, a small group of House members unhappy with the governor's proposed budget cuts began an effort to slow consideration of other bills on the agenda. This effort successfully prevented about 20 bills scheduled for debate from being considered and many more bills on the agenda subject to call from being considered. 

At 6 PM today, the legislature reached a Constitutionally mandated deadline for considering bills that have not yet been voted on favorably by both houses. Thus, the bills remaining on the docket at 6 PM will die unless both houses simultaneously vote to allow consideration of any given bill. Some effort to get a two-third vote on some of the remaining bills will be taken tomorrow morning. It remains unknown how successful this effort will be.

One victim of this work slowdown and the hard 6 PM deadline was an amendment to the digital interactive media bill allowing the program users to choose between tax credits and a discounted tax rebate in cash. The successful passage of this bill contemplated for SB 199 would have been to put a minimum value on the tax credits in the market. LISTA, GNO, Inc. and BRAC all supported this amendment which was contemplated to be amended into SB 199. SB 277 in the form passed by the House and the Senate only provides for the issuance of marketable/transferable tax credits. It is also unknown if this bill will ultimately be considered in this session by suspension of the rules by two-thirds vote. The effectiveness of the effort to suspend the rules and allow further bills to be considered will likely be known by  the middle of the day on Tuesday.

A further report will follow tomorrow.

Erich P Rapp.

Senate Bill 277 is Scheduled for Vote in Lousiana House or Representatives on June 22

The Louisiana House of Representatives has scheduled Senate Bill 277 for a vote in the House of Representatives on Monday June 22, 2009. Senate Bill 277 is, of course, the renewal and extension of the digital interactive media business/tax incentive program. Between now and then, please call your Representatives and voice  your support for SB 277.

Senate Bill 277 is authored by Senator Ann Duplessis of New Orleans and now being managed in the House of Representatives by Representative Cameron Henry. The bill is supported by the Louisiana Internet Software & Technology Association (LISTA), Greater New Orleans, Inc. (GNO, Inc which is the business development arm of metropolitan New Orleans), BRAC (Baton Rouge Area Chamber of Commerce), and the Jindal administration. The bill will provide marketable/transferable tax credits and cash rebates to businesses spending funds in Louisiana to create a broad array of software and web platform design and development projects.

By encouraging the operation of these types of  businesses, Louisiana will likely draw many new high paying jobs into the state on a long term basis. LISTA is very optimistic that this legislation will have a transformative impact on the Louisiana economy if adopted.

Between now and Monday June 22, 2009, please call your Representatives and voice your support for SB 277 and then Louisiana can join the digital media revolution.

Erich P. Rapp.

Louisiana Governor Declares Support for Senate Bill 277

The Louisiana Governor's office declared its support today for Senate Bill 277 concerning digital interactive media business incentives in Louisiana. After several weeks of negotiations and discussions with the leadership at the Louisiana Department of Economic Development about the exact language to be contained in Senate Bill 277, Senator Duplessis, LISTA, the Department of Economic Development and the Governor's office have reached an agreement on the terms of Senate Bill 277.

The Ways and Means Committee of the Louisiana House of Representatives will hold a hearing on Senate Bill 277 on Monday June 15, 2009 at 9 AM. If you are involved in this business and interested in supporting Senate Bill 277, please come to the committee hearing to show the committee members the business community support for the bill. If we as a digital interactive media industry in Louisiana fail to show our interest, we may find the committee members find it hard to care about our bill. Let's show our support.

The most exciting part of the bill is the definition of "digital interactive media." Under the new program, the digital interactive media incentives would be available for the development of many different types of software and web platform development as well as the development of video games and interactive animation. Under the existing law, the incentives have largely been limited to video game development. We are very excited about the potential for new businesses in the broader community of digital interactive media moving into Louisiana. In the years ahead, we anticipate new developer/programmer and new design jobs coming to Louisiana in material numbers.

The next most exciting thing about Senate Bill 277 is the proposed incentive parity with the film and television production incentives program. Under the existing digital interactive media program, the benefit was 20% transferable tax credits on in-state expenditures and the percentage declined over time. The new program would allow 25% transferable tax credits on all in-state expenditures and a 10% bonus for expenditures on labor residing in Louisiana for 35% transferable tax credits on expenditures on labor residing in Louisiana without any declining  benefit over time. As a practical matter, this combination of benefits effectively reduces the cost of developing many types of software and web platforms in Louisiana by over 30%.

It will take time to educate the digital interactive media industry about the benefits of this new program, but the program will eventually be a significant draw for new software and web platform development business in Louisiana.

Once this legislation becomes law, we must begin thinking about qualified workforce development by education and by transfer of qualified labor into Louisiana and we must work to change the perceptions about the workforce potential in Louisiana. Louisiana, however, can overcome these problems and build a digital interactive future.

I offer a prediction. With the proposed digital interactive media program enacted, Louisiana will be transformed from a digital interactive media backwater to a top five state player within ten years. Louisiana will be a leader in software and web platform development.

Erich P Rapp.

Louisiana Senate Passes Senate Bill 277 on Digital Interactive Media

The Louisiana Senate passed Senate Bill 277 on Thursday June 4, 2009. The bill will now be considered by the Ways and Means Committee of the Louisiana House of Representatives. The hearing has not yet been scheduled. An update will be provided on this blog when the meeting is scheduled.

We need everyone to send emails and make phone calls to their Representatives in the House expressing their support for Senate Bill 277 authored by Senator Duplessis and also expressing their opposition to Senate Bill 199 authored by Neil Riser.

SB 277 concerns tax credit incentives for businesses operating in the digital interactive media arena. The bill would provide tax credits for many types of software and web platform development. The objective of the bill is to increase the amount of such business being done in Louisiana and to increase the number of  software and web development and design jobs in the state.

The bill is a renewal of a program that has been in place for the past four years, but has been little used because it was previously limited to video games. The renewal of the program would include a modernization of the definition of digital interactive media and would place the level of tax credits granted on parity with the existing film tax credit program.

Senator Riser's Senate Bill 199 would not change the definition of digital interactive media to include software and web platform development and design generally. It would instead limit the coverage to video game development. LISTA is opposed to Senate Bill 199 by Senator Riser.

We need you to express your support for SB 277 and your opposition to SB 199 to all of your Representatives in the Louisiana House of Representatives. Every call and every email is important. A message to a Representative from a constituent voter will have a big influence on the legislator. The message can be limited to a sentence or two expressing your wishes. You can get the email address and phone number of  your representative at  http://www.legis.state.la.us/

For more information, the Saturday June 6, 2009 edition of the New Orleans Times Picayune includes an article describing SB 277 and its progress through the legislative process. The article was written by Times Picayune Capital Bureau Chief, Robert Travis Scott, and is entitled, Growth is sought in digital media

Erich P Rapp.

Senate Bill 277 Clears Senate Committee

The Louisiana Senate Revenue and Fiscal Affairs Committee voted a favorable referral of Senate Bill 277 out of committee to the full Senate on Tuesday May 26th. The current form of the bill is not yet available on the Louisiana legislature web site, but should be posted very soon. 

Representatives of LISTA have worked with representatives of the Louisiana Department of Economic Development on language for the legislation that would provide material support for the growth of operations of Louisiana web platform and software development businesses in Louisiana. Despite concerns of some for the potential cost to Louisiana state government of the legislation, the bill has so far been favorably received by the legislators.

The current legislation would provide transferable tax credits in the amount of 25% of web platform and software development costs and 35% of certain related labor costs to firms developing such projects in Louisiana. These tax credits could then be sold in the secondary market for as much as $0.90 on the dollar.  The passage of this legislation would seem likely to make Louisiana a national hub for web platform and software development in the years ahead.

The full Louisiana Senate may vote on this legislation on Thursday May 28th or Monday June 1st. If you are interested in web platform and software development businesses in Louisiana, please email and call your Senators and Representatives asking them to support Senate Bill 277.

If you do not know who your Senator and Representative are, you can find out by typing your home and business addresses into the appropriate place at  http://www.legis.state.la.us. It only takes a few minutes to find out and send your representative and senator an email. Please take the time to do this. It is really a big deal for the growth of this important industry in Louisiana.

For media coverage on Senate Bill 277 and the Louisiana Internet Software and Technology Association, please see the New Orleans Times Picayune article on Wednesday May 27th entitled, Movie, software tax benefits OK'd.

Erich P Rapp.

Louisiana Senate Committee sets time of hearing on Digital Interactive Media Tax Incentives Bill

The Senate Revenue and Fiscal Affairs Committee of the Louisiana legislature has scheduled the hearing on Senate Bill 277 regarding tax and business incentives for digital interactive media for 10 AM on Monday May 18, 2009 at the Louisiana State Capitol in Baton Rouge.

All those who own, work for, or are interested in digital interactive media businesses and the future of those businesses should plan to attend and speak in support of Louisiana Senate Bill 277. This bill would provide for transferable tax credits for businesses undertaking Louisiana based production of products and platforms in the digital interactive media arena.

The businesses undertaking those productions would receive a transferable tax credit equal to 25% of the production cost expended in Louisiana plus a 10% bonus or a total of 35% of the production cost for labor incurred in Louisiana. These tax credits can then be sold in the secondary market for cash (currently $0.80 to $0.90+ on the $1.00 of credit in realized cash) which substantially reduces the cost of building digital interactive media productions in Louisiana. 

For those involved in this industry, I cannot overstate how important this hearing is.

Erich P Rapp

LISTA's Digital Interactive Media Business & Tax Incentives Bill Filed

Senator Ann Duplessis of New Orleans has filed Louisiana Senate Bill 277 providing for a digital interactive media tax credit.  This bill has been co-authored by Senators Kostelka (Monroe), Marionneaux (Livonia/Baton Rouge region), Michot (Lafayette), Quinn (Metairie) and Walsworth (West Monroe). It has also been co-authored by Representatives Abramson (New Orleans), Arnold (New Orleans), Cortez (Lafayette), Downs (Ruston), Leger (New Orleans), Ligi (Metairie) and Robideaux (Lafayette).

You can read and print a copy of Senate Bill 277 from the Louisiana legislature web site or click on this link provided.

We are confidant that we have built a group of Senators and Representatives from all regions of the state. We also anticipate adding additional co-authors at the time the bill comes before a legislative committee for hearing.

Futher still, Greater New Orleans, Inc. ("GNO, Inc.") has also endorsed Senate Bill 277.

The passage of this bill in its current form would be a giant step forward for the Louisiana economy. The future of the United States economy is information and media driven. The jobs that would be brought to Louisiana after the passage of this bill would be almost uniformly high paying and bring new outside money into our economy. We urge everyone to contact their Representatives and Senators and ask them to support Senate Bill 277 in its current form.

Erich P Rapp