LAFAYETTE ECONOMIC DEVELOPMENT AUTHORITY AND OPPORTUNITY MACHINE TO HOST A TAX CREDIT SYMPOSIUM

Symposium to Educate Executives About the Opportunity to Use State Tax Credits to Fuel Job Creation and Offset Tax Liability

NEW YORK and LAFAYETTE, La., January 2, 2012 – The Lafayette Economic Development Authority and Opportunity Machine will host a Tax Credit Symposium on January 16, 2013 from 8:30 am CST to noon CST at Louisiana Immersive Technologies Enterprise (LITE) in Lafayette, Louisiana. The event is sponsored by the law firm of Allen & Gooch.

"Tax credits offer a unique way for businesses to generate capital without sacrificing equity,” said Clay Allen, Managing Partner, Allen & Gooch.  “Whether you are a start-up firm trying to get your product off the ground, an established local business looking to expand, or an out-of-state company considering a relocation, Louisiana tax credits are a powerful economic tool to help reach your goals."

Led by tax attorneys, accountants, former Louisiana regulators and other experts in the field of tax credits, the symposium will touch on all the vital elements of the tax credit ecosystem.  Topics to be covered during the half-day session include:

·         Overview of the tax credit landscape in Louisiana

·         The legal landscape around tax credits

·         Who is eligible to apply for tax credits

·         The new, transparent marketplace for the trading of credits

·         Case studies on the positive economic impact tax credits have had on Louisiana businesses

Historically, only very large businesses have utilized the hundreds of millions of dollars in tax credits issued in the state each year.  While the energy and entertainment industries have long been recipients of these credits, there are thousands of small to medium-sized businesses that are eligible to make use of these powerful tools.

“Louisiana issues approximately $300 million in transferable tax credits each year, providing an opportunity for businesses to use these credits to create jobs and grow in the state,” said Danny Bigel, founder and chief executive officer of The Online Incentives Exchange. “If a tax credit is earned but the company does not have a tax liability they can sell the credits to increase liquidity, while helping another Louisiana business offset their tax liability.”

“Tax credits are a vital economic tool, particularly in Louisiana,” said Mike Olivier, former secretary of Economic Development for Louisiana. “This symposium aims to help businesses, large and small, understand the value and opportunity that state tax credits provide as well as provide a roadmap to take advantage of these vital programs.” 

Prestigious speakers confirmed for the event include:

·          Mike Olivier, former secretary of Economic Development for Louisiana and CEO of the Louisiana Committee of 100 for Economic Development, Inc.

·          Sherri McConnell, principal, McConnell & Associates Consulting, former executive director of Louisiana's Office of Entertainment Industry Development. 

·          Danny Bigel, CEO and co-founder of The Online Incentives Exchange

·          John Munsell, CEO and co-founder of Bizzuka, Inc.

·          Ron Bienvenue, CEO of the Louisiana Buyout Fund

·          Richard Matheny, partner, Phelps Dunbar LLP in Baton Rouge

·          Heath Williams, director of Digital Media and Software Incentive Program for Louisiana Entertainment

To learn more about the Symposium or to register for the event, visit http://taxsymposiumla.eventbrite.com/#.  Registration is free. The Louisiana Immersive Technologies Enterprise (LITE) is located at 537 Cajundome Boulevard, Lafayette, LA 70506.