SUMMARY: The Louisiana Board of Commerce and Industry extended the Industrial Tax Exemption Program (ITEP) emergency rule for another 180 days, preventing its expiration on Oct. 21. Initially implemented due to Governor Jeff Landry’s executive order, ITEP offers tax incentives for industries that invest in Louisiana. The extension allows for continued negotiations on permanent regulations, with a draft of the long-term rules anticipated in mid-November. Landry’s executive order also set stricter approval criteria for exemptions, requiring community investment and local government approval, while excluding routine maintenance from eligibility, promoting community involvement in the exemption process.

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SUMMARY: In Louisiana, legislators are addressing a budget shortfall impacting higher education funding, particularly affecting the TOPS program, which is seeing fewer students accepting aid. As financial support has not increased with rising education costs, many eligible students are opting for better offers elsewhere. Meanwhile, popular programs like the MJ Foster Program are running low on funds, prompting calls for budget increases. In other news, media icon Curtis “50 Cent” Jackson visited Shreveport to enhance the local entertainment industry, while early voting for the November presidential election has begun. Rideshare companies Lyft and Uber are offering discounts for rides to polling places.

Midday Ark-La-Miss News Update: Oct. 18, 2024

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SUMMARY: In September, Louisiana‘s gaming industry faced significant revenue declines across various sectors, with riverboat casinos seeing a $17.6 million (12%) drop compared to last year. This month’s gaming activity was impacted by having fewer weekends than the previous year. Caesars New Orleans, after rebranding, reported a $2.8 million (14.7%) decrease from August and a 22% year-over-year decline. Racetracks also witnessed a $2.4 million (9%) decrease in slot revenue from August. Overall, video gaming devices generated $56.9 million, down 8.5% from August. Sports betting results were mixed, with retail sportsbooks totaling $31.7 million in wagers.

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