Opportunity Zones encourage economic development

Areas in SW La . are eligible for preferential tax treatment

The city of Lake Charles and the Southwest Louisiana Economic Development Alliance hosted a panel on Monday to discuss Opportunity Zones — economically distressed communities that are eligible for preferential tax treatment when investors pursue new developments.

Eight tracts of land in Calcasieu, Allen, Beauregard and Jeff Davis parishes are eligible for the investment incentive, said Mandi Mitchell, Louisiana Economic Development assistant secretary.

Opportunity Zones in Calcasieu include areas of North Lake Charles, the downtown lakefront district, Nellie Lutcher Cultural District, commercial areas along Broad Street, South Martin Luther King Highway and the distressed area along Interstate 210, including Chennault International Airport and Sowela Technical Community College.

Mayor Nic Hunter said the zones represent lucrative economic development tools for large and small businesses.

“The city of Lake Charles has become more aggressive than ever in recent months to encourage economic development and investment in some of our underserved corridors,” he said.

Other eligible areas include the Royal Plantation Bed and Breakfast in Beauregard Parish and portions of La. 165 through Oakdale.

The tax incentives offered through the program are designed as an economic “catalyst” for state, said Jason Decuir, principal with the global tax services firm Ryan Advocacy.

“Opportunity Zones come to Louisiana during a very important time,” he said. “Louisiana, if we think about it, is still in recovery mode — 13 years after (hurricanes) Katrina and Rita, eight years after the BP oil spill and two years just after the Baton Rouge flood.”


 

For more on the Opportunity Zone program, visit opportunitylouisiana.com/ business-incentives/opportunity-zones.

””

Jason Decuir, principal with the global tax services firm Ryan Advocacy, was part of a panel to discuss Oppportunity Zones in Southwest Louisiana on Monday.

Rick Hickman

Local News

Partnership allows for free mental health counseling

Local News

Governor ends mask mandate, except at some schools

Local News

Cold front to push through area Wednesday

Crime

Stolen handgun found during house fire investigation

Crime

10/26: Calcasieu Parish Sheriff announces arrest list

Crime

Man arrested a 21st time — this time for living in apartment complex’s attic

Local News

Leesville celebrates first female police chief

Local Business News

Community Foundation hires master planning firm

Local Business News

Port of LC seeks reimbursement for hurricane repairs

Local News

Jim Gazzolo column: Cowboys show they can be the bully

Local News

Liz Williams: Desire to help comes from ‘missional heart’

National News

Biden, Manchin and Schumer huddle, but still no budget deal

Local News

Photo Gallery: Trinity Baptist Dodgeball Tournament

Local News

Craig Marks: Past hardships just something God had me go through

Local News

SW La. school lunch menus Oct. 25-29

Crime

10/23: Calcasieu Parish Sheriff announces arrest list

Local News

Trinity Baptist drawing younger generation with dodgeball tournament

Jim Beam

Jim Beam column:Where do we go from here?

Local News

Deaf student welding his way to success

Business News

Louisiana float to appear in Macy’s Thanksgiving Day Parade

Local News

Jeff Davis School Board approves one-time pay supplement

Crime

15-minute deliberation before Vernon man convicted of recruiting prostitutes

Crime

Kinder man convicted in double homicide

Crime

10/22: Calcasieu Parish Sheriff announces arrest list