Louisiana's Dixieland music and crayfish gumbo have drawn millions of tourists over the years, but the state has had far less success in attracting new businesses and jobs. To help it compete with high-tech meccas such as California and Massachusetts, the Louisiana legislature has approved a jazzy venture-capital program. The new law, believed to be the first of its kind in the U.S., will provide income tax credits of up to 35% for individuals or companies investing in venture-capital firms in the Bayou State. Louisiana has long lacked investment money for young, speculative businesses. Much of the state's cash pool...
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