BATON ROUGE, La. (AP) — A new online exchange that lets investors trade state tax credits has launched in Louisiana.

The Advocate reports that on the Online Incentives Exchange's first day, a $1 million film tax credit changed hands.

The exchange opened several weeks ago. Later this month, it will start trading tax credits from Georgia and California. Plans are to eventually expand the exchange to include all 45 states that offer transferable and/or refundable tax credits.