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Louisiana Tax Bill Moves To Final Hurdle

Louisiana Tax Bill Moves To Final Hurdle

June 23, 2005 | By David Jenkins

June 23, 2005 | By David Jenkins
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The proposed Louisiana Digital Media Act, which will give significant tax breaks for game developers wishing to set up in the state, has been signed by the Speaker of the House in Louisiana, and needs now only to be signed by the Governor of the state. The legislation previously passed the House 98 to 0 and the Senate 38 to 0.

The so-called 'angel' investment tax credit will allow individuals who invest in start-up companies to earn tax credits equal to 50 percent of their investment.

The stated purpose of the bill is to help build and sustain a digital media industry in Louisiana, with the state particularly keen to encourage video game and other digital entertaiment-related companies. The hope is that the bill will help to create jobs and foster greater relationships between production and education facilities for industries that have not traditionally been well represented in Louisiana.

The bill was first considered in December of last year and follows the creation of the Louisiana Game Developers Association, a non-profit group devoted to attracting game development talent to the state.

Attempts to attract games companies to various locations around the world via tax breaks has become an increasingly common phenomenon, with local governments such as those in Singapore and Canada appreciating the positive effect on both the economy, education and training the video games production brings.

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