Saint Mary Sugar Cooperative seeks ITEP approval to boost local economic growth

The St. Mary Parish Board convened on March 13, 2025, to discuss significant local economic matters, including the re-leasing of a property and a tax exemption application for the Saint Mary Sugar Cooperative.

The meeting began with a proposal to re-list a lease for a property located south of the Intracoastal and the Burbank Boat Landing. The previous lessee withdrew, and the board voted unanimously to advertise for bids on the lease, which previously generated an annual income of $20,506.

The primary focus of the meeting was the approval of a tax exemption application for the Saint Mary Sugar Cooperative, presented by Dr. Fagan Busch. The cooperative, one of the oldest in Louisiana, is seeking an Industrial Tax Exemption Program (ITEP) to support its operations and expansion. The board was presented with three options: to approve the application, deny it, or request a 30-day extension to gather more information.

Brett Ally, president of the cooperative, emphasized the importance of the exemption for the cooperative's sustainability. He highlighted that the cooperative is farmer-owned and plays a crucial role in the local economy, generating approximately $200 million in revenue last year, with a significant portion benefiting local farmers. Ally noted that the cooperative employs nearly 200 people during the harvest season, contributing to high-paying jobs in the area.

The cooperative is seeking the ITEP to help finance a $24 million piece of equipment essential for its operations. Ally explained that without the exemption, the cooperative would struggle to manage both the equipment costs and property taxes. The board ultimately supported the application, recognizing the cooperative's vital role in the local economy and the need for a favorable business climate in St. Mary Parish.

In conclusion, the board's decisions reflect a commitment to fostering local businesses and supporting economic growth in the region. The approval of the tax exemption for the Saint Mary Sugar Cooperative is expected to have a positive impact on the local economy, ensuring the cooperative's continued operation and contribution to the community.