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New bills would give billion-dollar aerospace companies tax breaks to build, launch rockets in La.
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BATON ROUGE - Some Louisiana lawmakers want to use tax breaks to attract billion-dollar aerospace companies to the state.
The push comes after NASA astronauts made a historic trip around the moon powered by rockets built at NASA's Michoud Assembly Facility outside New Orleans.
HB 1088, sponsored by State Rep. Tony Bacala, R-Prarieville, would make private rocket production and launch companies eligible for tax breaks and protections if they are located in Louisiana.
Susan Bourgeois, secretary of Louisiana Economic Development, said the state has a long history in the aerospace industry.
"Aerospace could be anything from the manufacturer of a rocket, the launch of a rocket, the capture of a rocket," said Bourgeois.
Bourgeois pointed to bills currently before legislators that she said would help attract aerospace companies. The bills are modeled after those of neighboring states, such as Texas and Florida.
"We looked at their statutes, we looked at their public policy to see what they had to win these kinds of projects," said Bourgeois.
Under one bill, companies that spend at least $1 billion and bring in at least 200 full-time jobs would be eligible for rebates on local and state taxes.
In a statement sent to WBRZ, Jan Moller with Invest in Louisiana said providing companies with tax breaks would give away too much revenue for projects that could impact quality of life.
Bourgeois believes that only by providing tax incentives will Louisiana be able to compete with states already leading the way in aerospace production.
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