NEW YORK and LAFAYETTE, La., Jan. 2, 2013 /PRNewswire/ -- 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.
About the Lafayette Economic Development Authority
The Lafayette Economic Development Authority (LEDA) is a regional economic development organization that works with businesses as they make decisions to start, expand or relocate to Lafayette, LA and the surrounding communities. Through innovative collaborations with business, government and education, LEDA strives to diversify the community's business base for future growth and development. LEDA offers a full range of services including: demographics and statistics, real estate identification, workforce training assistance, employee recruitment events, industry and market research, industrial parks, and networking opportunities. Information about LEDA and Lafayette, LA can be found at www.lafayette.org.
About Opportunity Machine
The Opportunity Machine (OM) is a single vehicle that brings together the individual elements and strengths of the community to accelerate the growth of technology start-ups. We create ecosystems that unite entrepreneurs with vital corporate resources within a culture of fun and success. It is the mission of the OM to accelerate wealth creation by immersing technology wildcatters into a fiber-powered community of innovators. The Opportunity Machine can be found at www.opportunitymachine.org.
About the OIX
The Online Incentives Exchange (The OIX) (www.theoix.com) is the national online exchange for the US state tax credit market. The OIX provides a transparent platform and a true bid/ask marketplace for US state tax credits, where price discovery is achieved through a modern, reliable and highly sophisticated trading environment. Through the OIX, members can buy and sell vetted tax credits through a standardized clearing process. Additionally they have access to real-time price data and comprehensive information regarding available credits in every state. For more information on the OIX visit www.theOIX.com.
About Allen & Gooch
Allen & Gooch is a law firm with offices in Lafayette and New Orleans, LA that has been built to meet the numerous and complex legal needs of business people in the 21st Century. We are dedicated to resolving disputes for business people through litigation, alternative dispute resolution such as mediation and commercial arbitration, or through any other legal means necessary to protect the interests of our clients. Our firm is composed of a formidable team of experienced attorneys who fully understand how to represent businesses, entrepreneurs and business professionals. Our team of attorneys covers many areas of law in order to meet the individual needs of each client. When you come to Allen & Gooch, we will provide you with expertise geared to your specific legal problem, a thorough evaluation of legal risks balanced against your business objectives, clear explanations of your legal options, and timely resolution of your legal problems. From business transactions to insurance & casualty litigation and so much more - Allen & Gooch combines extraordinary legal ability with a proven reputation in litigation to bring our clients added value by receiving the highest possible quality of legal representation. More information about Allen & Gooch can be found at www.allengooch.com.
SOURCE The Lafayette Economic Development Authority and Opportunity Machine