A guide to incentives for businesses seeking to rebuild, expand or begin operations in the portions of Mississippi, Louisiana and Alabama that suffered the brunt of Hurricane Katrina is available from the law firm Butler, Snow, O’Mara, Stevens & Canada, PLLC.
Portions of the three states comprise the “Gulf Opportunity Zone” or “GO Zone,” and are eligible for federal benefits such as bonus depreciation, tax-exempt financing and five-year net operating loss carryback. The Mississippi state government also offers additional incentives, highlighted in the guidebook.
The guide, The Gulf Opportunity Zone Act of 2005: Benefits Available to Businesses, was written by attorneys at Butler Snow who are taking an active role in recovery efforts, including advising businesses who seek to benefit from the GO Zone legislation.
“We wanted to share our hands-on experience with others,” Steve Rosenblatt, the Butler Snow partner who leads the firm’s Katrina response team explained. “There are significant incentives to encourage businesses to rebuild, expand or begin operations in the GO Zone. Every business looking to expand or relocate should take a long, hard look at the GO Zone.”
Butler Snow, has offices in Jackson and Gulfport, Miss. and in Memphis, Tenn. For information go to www.butlersnow.com.
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