In a 2017 report from Software.org, the software industry created more than 20,000 direct and indirect jobs in Louisiana. Since 2014, that’s a 21.7 percent increase in job creation, which has contributed $1.5 billion of direct value to the state’s GDP. Each year, more software and tech companies are choosing to open their doors, expand their business, and locate here, with many settling in South Louisiana because of the benefits the region offers to both the company and its employees.
Incentives That Develop a Better Bottom Line
From award-winning programs that partner with local universities and train new talent to attractive tax incentives and a world-class fiber network, South Louisiana is quickly becoming an important hub for the bits and bytes of the software industry. From the benefits it offers to the region’s recent tech boom sparked by both public and private investments, it’s created a choice location for growth. That’s why CGI—the fifth largest independent information technology and business process services firm in the world—now occupies a $13.1 million, 50,000 square foot state-of-the-art facility located in the research park center of the University of Louisiana at Lafayette.
Companies like CGI are taking advantage of the Digital Interactive and Software Development Incentive currently provided, which offers a 25% tax credit on qualified payroll for in-state labor and 18% for qualified production expenses. That, coupled with FastStart and the University of Louisiana at Lafayette’s 10-year higher education initiative to triple the number of computer science degrees awarded annually creates a healthy business environment for software companies in the region—one that keeps their bottom line in mind.
High Quality of Life. Low Cost of Living.
South Louisiana also offers employees and their families a low cost of living compared to other states and even other regions in Louisiana. The cost of living averages 5% below the national average, and residents also enjoy historically-low housing and utility costs when compared to other tech centers, such as New York and Silicon Valley, in the U.S. The culture of the region also continues to attract top talent and help make relocation easier. And, events like Festival International de Louisiane, Southern Screen, and Black Pot give residents plenty to experience year round.
In terms of infrastructure, South Louisiana is also making progress in becoming classified as a smart city. By adopting modern technologies and continuing to grow its fiber network—classified as one of the best in the nation—the region is adopting modern technologies that work to make life easier and business operations more effective and efficient. It’s made way for businesses like Waitr, an application that pairs gig economy drivers with local restaurants to create a dedicated delivery force that carries food across South Louisiana and, to continue rapidly growing not only here, but in multiple states across the nation.
If you’re a software company looking for a more business-friendly environment that caters to corporations and gives businesses the benefits they need to encourage growth, look no further than South Louisiana. It’s the perfect combination of quality of life, low cost of living, and attractive incentives to help you thrive whether you’re brand new or looking to expand. Contact us today to learn more about how the region can keep you connected to success.