Renewal Community Initiative

Quick Overview

Tax Incentives

• Wage Tax Credits

• Section 179 Deduction

• Commercial Revitalization Deduction

• Zero Percent Capital gains Rate for RC Assets

Renewal Community Initiative Home

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In December 2000, Congress approved the designation of Renewal Communities (RCs) to help promote economic development in distressed communities.  The state of Louisiana received authority to offer two Rural Renewal Communities -- the North Louisiana Rural Renewal Community and the Central Louisiana Rural Renewal Community.  Qualified businesses located in the either of these Rural Renewal Communities will be eligible to take advantage of Federal tax incentives to hire residents and to expand or improve their operations.

Eight of the ten parishes served by The Coordinating & Development Corporation in Northwest Louisiana have been included in the State's Rural Renewal Communities.  These parishes are:

The Federal tax benefits available in RCs are designed to encourage businesses to invest in these areas.  Expanding business development and commerce leads to greater job opportunities for residents, and to improved access to goods and services, both of which help energize long-term revitalization.  The tax incentives offered through this program are substantial, and will be available to businesses creating or retaining new jobs through December 31, 2009.

CDC is sincerely grateful for the assistance provided by mayors, police jurors, town/village councils, chambers of commerce, State Legislators, Congressional Aides, the Louisiana Municipal Association, and the Police Jury Association of Louisiana in preparing the applications that the State of Louisiana submitted to the U.S. Department of Housing and Urban Development last year.                             

Central Louisiana Rural Renewal Community

• Natchitoches (selected census tracts)
• Sabine (selected census tracts)