Sunday, September 19th, 2010, Times-Picuyune writer Richard Thompson featured Touch Studios in his article entitled, “Tax Credits are Helping to Nurture the Digital Media Industry in New Orleans.” The incentive program, which began in 2005, provides a credit of 25 percent of certain production expenditures for digital interactive productions in Louisiana and offers an additional 10 percent tax credit for payroll expenses for Louisiana residents. There’s no annual cap on the credit, and it can be sold.
Thompson sat down with Touch Studios Co-founders Neel Sus and Jameson Quave to learn how the tax credits have helped them to grow their business. Neel observed that it has allowed the company to take more risks, “It becomes a little less painful, because it’s like, for every dollar I invest in this in labor, I’m going to get an extra 35 cents back that I can reinvest,” Sus said. “Knowing those credits are coming makes us more apt to do the work.”
The risks have paid off for Touch Studios, allowing us to launch a number of quality apps and games already. We’ve produced several smart-phone- and iPad-compatible apps, including Miles Method, a collaborative college-football recruiting program that boasts “an unprecedented look” at the LSU Tigers, and Reactor HD, a puzzle game that’s been described as “a cross between Tetris and a Rubix cube.”
Over the next two decades, Louisiana Economic Development Secretary Stephen Moret predicts that the digital-media and software-development industries “will be, if not the No. 1 growth area, certainly top two or three.” Touch Studios certainly feels that way. Thompson quoted Neel and Jameson describing their expectations for growth, “They say that Touch Studios will likely develop five new games and 20 more mobile apps over the next year, while doubling their head count to 20 employees and bringing in an estimated $1.5 million in revenue.”
Touch Studios is proud to be a forerunner in the Software Development industry in Louisiana. The potential has always been here, and it is exciting to see it come to fruition. We recognize the importance of the local high-tech community for our business and we want to strive to connect businesses and share ideas. Contact us if you would like to get connected to the local community or learn more about mobile apps and games.
