Louisiana Senate Bill SR92

Louisiana 2013 Regular Session

• Introduced: 5/7/13
• Refer: 5/8/13
• Refer: 5/13/13
• Report Pass: 5/22/13
• Passed: 5/29/13

Caption

Directs the secretary of the Department of Economic Development and the executive director of the Louisiana Workforce Commission to provide contractual and employment information relative to business and employers pursuant to the Gulf Opportunity Zone and Quality Jobs Programs.

Impact

The resolution highlights the importance of transparency regarding economic incentive programs that offer tax relief and grants to businesses. The rationale behind the resolution suggests a consciousness of how such financial resources may impact local government budgets and services, as tax incentives can divert much-needed funds from public services. The collection and reporting of this information are poised to inform legislators and the public about the effectiveness and repercussions of these economic development programs.

Summary

Senate Resolution No. 92 directs the secretary of the Department of Economic Development and the executive director of the Louisiana Workforce Commission to provide specific contractual and employment information related to businesses within the Southeast Louisiana Economic Development Region. This request pertains to businesses that have made significant capital investments of five hundred million dollars or more and have benefited from both the Gulf Opportunity Zone and Quality Jobs Programs in the past three years. The intent is to gather data that outlines these companies' ongoing revenue, contracts, and job creation efforts.

Sentiment

The sentiment surrounding SR92 appears predominantly positive among those in favor of greater accountability and transparency in state-sponsored economic initiatives. Supporters recognize the need for oversight to ensure that the economic benefits promised by incentive programs are visible and verifiable. Conversely, there may be concerns regarding the burden of reporting on businesses and the possible implications of revealing sensitive financial data, particularly for smaller organizations that may not have the resources to fully comply with such inquiries.

Contention

While there is general support for the aggregation of this data, notable points of contention could arise from businesses concerned about privacy and the potential for the information to be used against them in a competitive market. Moreover, the necessity of compliance with reporting could be viewed as bureaucratic red tape, particularly if it affects the operational flexibility of the companies involved. As the resolution moves through legislative procedures, these tensions between the need for oversight and the practical realities of business operations may become focal points of debate.