cultural economy initiative sustaining the people who create and preserve artistic and cultural...

A program of the LouisianaCultural Economy Initiative

Under the direction of the Office of the Lt. Governor through the

Office of Cultural Development

Cultural Economy Initiative

Sustaining the people who create and preserve artistic and cultural products

and assets

Enhancing capacity for production

Developing new markets for their creations

Program PurposeFor local governments to revitalize

communities by creating locally driven hubs of cultural activity

BenefitsIncreased cultural activity, occupancy,

commerce, jobs, and sense of community identity

Program Incentives1. Historic Preservation – expands

eligibility of state historic tax credits for rehabilitation of commercial and residential structures to cultural districts

2. Visual Arts and Crafts – state and local sales tax shall not apply to original, one-of-a-kind works of art

Tax Credit Programs*1.State Residential Tax Credit2.State Commercial Tax Credit3.If applicable, Federal Historic

Rehabilitation Tax Credit for Commercial Buildings

Check www.louisianahp.org for details

*Separate applications by property owner required

Historic Preservation

Visual Art Sales Tax Exemption

Original One-of-a-kind Visual Art or Fine Crafts Conceived and made by hand

of artist or under his direction Not intended for mass

production

Original art must meet all 5 of the following points:

2013 Annual Report Results

• Rehabilitation Historic Buildings– 891 commercial, 319 residential applications.

• Sales Tax Exemptions– 761 businesses, 240 organizations, and 5,327 artists benefitted, representing over $14 million of original art sales

• Hubs of Cultural Activity– 2,818 cultural events, 3.9 million people

• Vacant Buildings– Vacancy rate decreased by 2% - 15%

• New Businesses– 362 net growth in cultural businesses

• Program Recognition as Model– Mayors' Institute on City Design's (MICD), Creative Placemaking

www.crt.la.gov/cultural-development/arts/cultural-districts

Gaye Hamilton, Cultural District Program Manager

at Phone: 225.342.8161 or Email:

ghamilton@crt.la.gov

For Tax Credits: Andrea McCarthy, Tax Credit Program at

Phone: 225.219-9771 or amccarthy@crt.la.gov