The State of Louisiana , Caddo Parish, the City of Shreveport and the Biomedical Research Foundation provide a variety of competitive incentives to qualified InterTech tenants. Biomedical Research Foundation staff assists tenants in accessing state and local business incentives.
In addition to these competitive incentives, there are significant operating cost advantages for Intertech compared to other biotechnology hub locations.
State & Local Incentives
Biomedical Research Foundation staff work with Park clients to access and tailor available Louisiana incentives to support company needs. Incentive programs can be viewed at Louisiana Economic Development. These programs include:
Looking for a biotechnology location with low operating costs and a trained life science workforce? Recently, a notable site selection consultant (The Boyd Company of Princeton , NJ ) published a study entitled Comparative Cost Analysis for North American Biomedical Industry Operations. The study modeled the cost to operate a 75,000 SF life science facility in 50 cities across North America , factoring in labor, electric, lease, corporate travel, heating, air conditioning and amortization costs. In the Total Annual Operating Cost Rankings , Shreveport was ranked the 4th most cost-effective location in North America , being 25% to 35% less costly than west coast and northeast locations, and 10% to 25% less costly than mid-Atlantic east coast locations.
This report is consistent with a r ecent Forbes Magazine analysis that ranked Shreveport #7 on the top 25 US cities w ith the lowest costs of doing business . Part of the reason for these rankings is that Shreveport boasts one of the lowest utility costs in the nation. In June, 2005 Shreveport 's residential electric rates were 31% less than the national average, commercial electric rates were 38.2% less than the national average, and industrial electric rates were 20% less than the national average.
Utility rates together with a number of other factors have resulted in Shreveport 's 2005 American Chamber of Commerce Researchers Association (ACCRA) Cost of Living Index being 92.4% of the national average. This compares very favorably with major biotechnology locations like San Diego , San Francisco , Seattle , Raleigh NC , Gaithersburg MD , and Boston .
To further add to Louisiana 's business competitiveness, the Louisiana State Legislature abandoned the three-factor apportionment formula in favor of a single factor sales
apportionment formula when computing business
income tax obligations, beginning in 2006.