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Press Release

Turbo Squid’s GameFlood is First Company To Receive Tax Credit Under Louisiana Digital Media Act

Recently launched gaming division gaining momentum with funding, tax credit and technology awards

(New Orleans, LA – February 23, 2007) - GameFlood (www.gameflood.com), a Turbo Squid company and the premier destination for gamers to find, share and play add-on game content, today announced that it is the first recipient of the tax incentive program offered by the Louisiana Digital Media Act.

“Turbo Squid and GameFlood are the ideal role models for a generation of emerging digital media companies,” said Pam Meyer of GNO Inc. “As industry leaders and perfect examples of the potential for Louisiana technology companies, they were ideal first recipients of the Louisiana Digital Media Act tax credit.”

Turbo Squid was instrumental in helping to create The Digital Media Act, which encourages the growth of Louisiana’s interactive digital media industry through a tax credit program. By recognizing the economic impact that the industry can have on the state, and by encouraging its growth, backers of the Louisiana Digital Media act believe that the law will encourage both start-ups and established companies to bring high-paying jobs to Louisiana (the industry boasts an average annual salary of nearly $75,000).

Eligible companies can receive credits in the amount of twenty percent of their in-state investments for the first two years, fifteen percent for the next two years and ten percent for the final two years. Recipients of the tax credit must agree to remain in Louisiana for one full year after their credits have expired, and until their company’s fiscal impact on the state’s economy meets or exceeds the total value of the credits.

“Turbo Squid and GameFlood are proud to help lead Louisiana into its role as an important hub for the digital entertainment industry,” said Matt Wisdom, co-founder and CEO of Turbo Squid and its subsidiary Game Flood. Wisdom, along with Ms. Meyer and others, helped to define the scope of the legislation, and played a key part in building the coalition that led to its passage.

Additional supporters and creators of the Louisiana Digital Media Act include Ms. Meyer of GNO, Inc., the City of New Orleans, Jefferson Parish, the Lafayette Economic Development Authority, the Chamber of Greater Baton Rouge, Louisiana Technology Park, Tech Sector Day, and a number of area universities.

About GameFlood

GameFlood is the premier destination for gamers to find, share and play add-on game content. Through GameFlood, gamers can quickly and easily find the greatest amount of quality add-on game content available online. This content is produced through GameFlood’s thriving community of artists and developers. GameFlood can be found online at www.gameflood.com.

Contact:
Brett McCallon
Marketing Manager
GameFlood