The Louisiana Board of Commerce and Industry approved $185 million worth of industrial tax breaks Wednesday under Gov. Jeff Landry’s new rules, Louisiana Illuminator reports.
Landry’s new rules, announced in the spring, changed the program so companies no longer must create jobs in exchange for the incentives.
The board approved its latest round of Industrial Tax Exemption Program applications on Wednesday with little discussion and no opposition among the 20 or so members present.
Most of that $185 million applies to two projects over 10 years.
The largest break was for ElementUS Minerals’ $127.6 million industrial waste recycling project. The company wants to transform waste at the Atlantic Alumina Co. refinery into critical minerals needed for the national defense sector, according to its filing with the Louisiana Economic Development agency.
