Parish To Lose Over $162 Million Due To PILOT Program

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By Pam FolseContributing Writer

 

St. James Parish taxing authorities will lose over $162 million by the year 2045 as a result of the Payment- in-Lieu-of-Taxes or PILOT program. Nucor Steel in Convent and Plains All American Pipeline, LP in St. James are assisted by such PILOTs, an incentive which allows a governmental unit to take title to a plant or industry for a specified number of years and lease it back to the company when the project is built. PILOTs are extended by local government as a way to encourage industry by offering a tax break in return for hiring parish residents and doing business locally.

 

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