Do Business in Downtown Ponchatoula
Are you interested in opening a business in Downtown Ponchatoula? Or are you wanting to giving your current business a little “face lift”? Look no further! When you are located in Downtown Ponchatoula, you are eligible for many local, state, and federal business incentives. These incentives include grants, design restoration programs, and historic renovation guidelines to help both new and existing business and property owners. Click here to contact program director for more information.
Grants:
Louisiana Main Street Restoration Grants: The Louisiana Main Street Restoration Grant provides matching funds to encourage the revitalization of historic downtown commercial properties in designated Louisiana Main Street districts. These grants serve as an effort to promote community revitalization and stimulate economic growth and vitality, in addition to enriching cultural tourism. Community reinvestment utilizing historic preservation practices improves community economic health by fostering renewed interest in shopping, working, and living downtown. Grant funding and the number of grants awarded are dependent on state budgets and the amount of funding appropriated by the legislature each year.
The 2022-2023 grant application is NOW closed.
The 2021- 2022 Louisiana Main Street Restoration Grant winner. The photo on the left is the before. The photo on the right is after the grant work was completed. This building houses B2 Antiques/Time and Again Collectibles.
Tax Incentives:
Louisiana Economic Development Restoration Tax Abatement Program: Louisiana Economic Development provides a property tax abatement for up to 10 years for the rehabilitation of existing commercial structures and owner-occupied residences. This tax abatement is based upon the assessed valuation of property prior to the start of renovation/improvements.
Federal Historic Rehabilitation Tax Credit Program: A 20% federal income tax credit is available for the rehabilitation of historic, income-producing buildings that are determined by the National Park Service to be "certified historic structures." The Division of Historic Preservation and the National Park Service review projects to ensure their compliance with the Secretary of the Interior's Standards for Rehabilitation. The Internal Revenue Service defines qualified rehabilitation expenditures on which the credit may be taken.
State Commercial Tax Credit Program: A 20% state income tax credit is available for the rehabilitation of historic, income-producing buildings that are determined by the Division of Historic Preservation to be "certified historic structures." The Division of Historic Preservation reviews projects to ensure their compliance with the Secretary of the Interior's Standards for Rehabilitation. The Louisiana Department of Revenue defines qualified rehabilitation expenditures on which the credit may be taken.
Loan Programs:
Louisiana Economic Development Small Business Loan and Guaranty Program: The Small Business Loan and Guaranty Program facilitates capital accessibility for small businesses by providing loan guarantees to banks and other small business lenders in association with the federal State Small Business Credit Initiative (SSBCI). The program's purpose is to provide financial assistance, which will help with the development, expansion and retention of Louisiana's small businesses. The program is administered by Louisiana Economic Development through Louisiana Economic Development Corporation (LEDC).
United States Department of Agriculture Rural Development-Business and Industry Guaranteed Loan Program: This program bolsters the availability of private credit by guaranteeing loans for rural businesses.