Billions in tax incentives from the Industrial Tax Exemption Program have failed to produce job and income growth in Louisiana, according a new report from independent research firm Ohio River Valley Institute.
Lake Charles American Press reports that a recent empirical study found that ITEP offers little benefit to the state and its residents. “Giving Away the Future: How Louisiana’s ITEP Has Failed to Produce Prosperity” was published last week by ORVI, an independent, nonprofit research and communication center founded four years ago.
Ben Hunkler, communications manager for ORVI, says the group took a “critical” look at Louisiana’s ITEP program, and analyzed its overall effectiveness with the “most rigorous economic and statistical analysis of the program to date using actual jobs and income data.” Read more.
