This page provides information relative to incentives available to residents and businesses within the City. In addition to incentives, the City pursues other economic development activities that support the Gretna Comprehensive Plan. The City works extensively with the Jefferson Economic Development Commission (JEDCO) to address economic development needs that balance job and wealth creation alongside quality of life issues.
You can view the City’s most recent 2019 Demographic and Economic Profile here.
Please see each of the sections below for additional information about specific incentives available and their corresponding area eligibility within the City.
Opportunity Zone Incentives
Certain investments made within Opportunity Zones designated by the U.S. Department of the Treasury may be eligible for federal capital gains tax deferral and/or partial or complete elimination. Interested parties should closely follow the release of Treasury Dept. guidance to assist in determining eligible investment incentives.
Recent guidance posted by the Treasury Dept. can be found here.
Gretna is home to one Opportunity Zone whose boundaries can be found using the State GIS OZ mapping application found here.
State Commercial Historic Rehabilitation Tax Credit
The 25% State Commercial Tax Credit Program is jointly administered by the Louisiana Division of Historic Preservation and the Louisiana Department of Revenue. The credit is available for those income-producing buildings that are contributing elements to Downtown Development Districts or certified Cultural Districts. Rehabilitation projects must exceed $10,000 in qualified rehabilitation expenses and must be completed according to the Secretary of the Interior’s Standards for Rehabilitation. Once earned, credits are fully transferable and may be carried forward for up to five years. More information regarding utilization of the State Commercial Historic Rehabilitation Tax Credit can be found here.
Eligibility for the State Commercial Historic Rehabilitation Tax Credit is bound to properties within the Gretna Cultural District.
Federal Historic Rehabilitation Tax Credit
The Federal 20% Historic Rehabilitation Tax Credit Program is jointly administered by the National Park Service and the Internal Revenue Service. The Louisiana Division of Historic Preservation acts as an applicant’s first point of contact when pursuing historic tax credits. The credit is available for those income-producing buildings that are individually listed in the National Register of Historic Places or are contributing elements to National Register Historic Districts. Rehabilitation projects must be substantial; that is, the qualified rehabilitation expenses must exceed the value of the historic building. All projects must be completed according to the Secretary of the Interior’s Standards for Rehabilitation, and buildings must be retained for five years to receive the full value of the credit. More information regarding the utilization of the Federal Historic Rehabilitation Tax Credit can be found here.
Eligibility for the Federal Historic Rehabilitation Tax Credit is limited to properties within the City’s National Register Historic District.
Restoration Tax Abatement Program
Commercial property owners and homeowners who substantially expand, restore or improve an existing structure located in a qualifying district, i.e. Economic Development District, Historic District or a structure registered as a Historic Place, may be eligible for a five-year deferred assessment of the ad valorem property taxes on the improvements.
The Restoration Tax Abatement (RTA) program is an economic development incentive created for use by municipalities and local governments to encourage the expansion, restoration, improvement and development of existing commercial structures and owner-occupied residences in Downtown Development Districts, Economic Development Districts or Historic Districts. JEDCO and Jefferson Parish require the applicant to submit sufficient documentation to show that the renovation will be substantial. Projects for the purpose of reconditioning, refurbishing or repairing are not considered eligible. In addition to the City’s Historic Districts the RTA program can be utilized within Jefferson Parish Economic Development Districts.
Enterprise Zone Tax Incentive Program
The Enterprise Zone Program provides Louisiana income and corporate franchise tax credits to businesses creating net new permanent jobs. Businesses interested in utilizing the Enterprise Zone Tax Incentive program should visit JEDCO’s program information page found here.
Eligible businesses must be located within the City’s Enterprise Zone.