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Committee approves industrial tax exemption for Bollinger Shipyards' $33.8 million expansion
Summary
The Finance Insurance and Section 16 Lands Committee on March 18 approved an Industrial Tax Exemption Program (ITEP) request for Bollinger Shipyards LLC for a $33.8 million expansion; committee discussion addressed projected tax impacts and jobs.
The Finance Insurance and Section 16 Lands Committee of Terrebonne Parish on Tuesday, March 18, approved a resolution granting an Industrial Tax Exemption Program (ITEP) request from Bollinger Shipyards LLC for a $33,800,000 expansion (project number 20220534-ITE).
The exemption will cover 80% of the ad valorem increase tied to the expansion for 10 years; committee members were told the total value exempted is $31,117 over the life of the exemption. The committee approved the resolution by voice vote after a motion by Mister Lagarde and a second by Committee…
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