It's no secret that the state of Louisiana is embroiled in a budget crisis and lawmakers are trying to find solutions as we speak in Baton Rouge, but wasteful spending continues!

Yesterday I reported on the tab the state has racked up fighting installing A/C on death row at Angola, today, I want to tell you about an investment the state of Louisiana made into a company that has filed bankruptcy.

Start up companies can be hard to get off the ground and that's why a lot of states provide incentives to bring new business. But most states don't offer tax credits of up to 35% like Louisiana does, well did, because now they've reduced that number to up to 25.2%.

Dinner Lab was one of those said start ups in New Orleans. The supper club then expanded to 30+ other cities and spent more than $10 million of investors money... then shut the doors unexpectedly April 2016. The company is now in bankruptcy and Louisiana taxpayers are out more than $3 million. That's a lot of cash. I'm sure the folks at the Department of Education would appreciate those funds. Maybe at the Louisiana Department of Health and Hospitals?

I'm not saying don't support start up business, I think we need to support them so we can grow our economy, but before we start throwing around money, we should do our homework because the failed Dinner Lab experiment owes money to 284 creditors in 26 states... Just saying...

 

More From 96.5 KVKI