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Last Modified: September 12, 2008Auto Industry

20 automobile manufacturers and automotive parts supply companies have been responsible for over 1.6 billion dollars in new capital investments in Shreveport and 6,000 new jobs. These businesses have opened up approximately 5 million sq. ft. of new manufacturing space in addition to General Motors’ $900 million dollar investment in a 1.8 million sq. ft. expansion of their 2.1 million sq. ft. Shreveport manufacturing facility that was originally constructed in 1981. General Motors is one of the big employers in the Shreveport area and they produce the Chevy Colorado, the GMC Canyon and the Hummer H3 SUV in their Shreveport plant. GM’s manufacturing facilities produce about 217,000 trucks annually and provide close to 3,000 factory jobs for Shreveport-Bossier City’s residents.

Shreveport is an advantageous location for the automotive industry

Louisiana has an Industrial Tax Exemption Program that allows new manufacturing facilities to be initially exempted from state, parish, and local property taxes for 5 years with an option for an additional 5-year exemption. Louisiana’s Quality Jobs Program provides a cash rebate to employers who pay employees more than $9.01 per hour. The rebate amounts to 5% of the employer’s annual gross payroll and that amount increases to 6% for employers who pay employees more than $11.59 per hour. These incentives are applicable to the automotive industry because workers in the manufacturing facilities are usually paid more than $9.01 per hour. Shreveport also offers a 100% property tax abatement for 10 years to new businesses that are engaged in manufacturing. Because Shreveport is conveniently located near Interstate 20, shipping of new automobiles to retail dealers by truck is easy and efficient. Considering Shreveport’s central location and the many incentives for new manufacturing facilities offered by both the State of Louisiana and the City of Shreveport, the factors all add up to a business climate that is conducive to the automotive industry.