Mentor-Protégé Tax Credit

Overview

Louisiana Economic Development supports established construction companies that choose to mentor the development of protégé firms as competitive contractors, subcontractors and joint venture partners.

Through the Mentor-Protégé Tax Credit program, LED enhances Louisiana's business environment for new construction companies. This program provides technical and economic benefits to Louisiana-based contractors who will create and/or retain jobs for Louisiana citizens, expand the state's economy and increase available quality jobs.

Benefits

With the Mentor-Protégé Tax Credit program Act of 2007, mentor firms can receive Louisiana income or franchise tax credits of up to $50,000 per year by making technical assistance available to a protégé firm.

Review a sample calculation of benefits in the Related Content section to see how this incentive could apply to your business.

Eligibility

Mentor Firm Requirements

Committed and able to provide professional guidance and support to protégés, which facilitates their development and growth, particularly in the critical areas of private and public procurements in construction
Demonstrate favorable financial health, including profitability for at least the last two years
Demonstrate the capability to provide managerial or technical skills transfer or capacity building
Capable of contracting with private and public entities
In "good standing" with the Secretary of State and not in violation of any state statutes, rules or governing policies

Protégé Firm Requirements

May not be an affiliate or related party of the mentor
Certified active in Louisiana Economic Development's Small and Emerging Business Development Program or is registered in the state's Hudson Initiative - Small Entrepreneurship Certification Program
In "good standing" with the Secretary of State and not in violation of any state statutes, rules or governing policies

For comprehensive rules and details on eligibility, please review Related Content below and contact the appropriate administrator.

How to Apply

Companies interested in applying for Mentor-Protégé Tax Credits must submit an application for approval as a mentor or protégé to LED's Community Outreach Services.

Download and complete the appropriate application located within Related Content.

Companies interested in participating in the Mentor-Protégé Tax Credit program must submit the appropriate application for approval to:

Louisiana Economic Development
Community Outreach Services - Entrepreneurial Services
P.O. Box 94185
Baton Rouge, LA 70804-9185

Firms interested in participating, whether as a mentor or protégé, must be accepted prior to negotiation of a mentor-protégé agreement.

Administration

This program is administered by Louisiana Economic Development.

For information regarding the Mentor-Protégé Tax Credit, contact the program administrator:

Craig Hartberg
225.342.5882
hartberg@la.gov