The Truth About Louisiana
No wonder why Louisiana's film industry went from $20 million in 2002 to $210 million in 2003, then $335 million in 2004: the state's 10-15% investor tax credit was on a production's TOTAL budget--whether or not the dollars were spent in Louisiana--as long as at least part of the project was shot in the state. Gee, I wonder if that was a typo on the bill.
In any case, Louisiana has just fixed that boo-boo by limiting the credit to Louisiana expenditures only, and upping the credit amount to 25% for productions spending over $300K in the state. Additional film credits include a 10% resident payroll credit for aformentioned productions, and a 15% credit for $300K+ production infrastructure projects like soundstages and studios (Act 456). The state has also added credits for digital media/video game productions (Act 346) and sound recordings (Act 485).
The revised incentives are still very attractive to productions, and Louisiana expects Hollywood to keep calling. However, with the huge volume of activity, the state is experiencing a shortage of skilled labor. To combat this problem, the state is working with local educational institutions to develop technical training programs for crew positions such as set designers, grips, and gaffers, and also encouraging experienced workers from other states to move to Louisiana.
>> Louisiana State Legislature [See Acts 456, 346, 485 from 2005 Session]
>> Good response to movie credit [2theAdvocate.com, 8/10/05]
>> Film industry booming, but where do you find the workers? [AP/Modesto Bee, 8/7/05]
In any case, Louisiana has just fixed that boo-boo by limiting the credit to Louisiana expenditures only, and upping the credit amount to 25% for productions spending over $300K in the state. Additional film credits include a 10% resident payroll credit for aformentioned productions, and a 15% credit for $300K+ production infrastructure projects like soundstages and studios (Act 456). The state has also added credits for digital media/video game productions (Act 346) and sound recordings (Act 485).
The revised incentives are still very attractive to productions, and Louisiana expects Hollywood to keep calling. However, with the huge volume of activity, the state is experiencing a shortage of skilled labor. To combat this problem, the state is working with local educational institutions to develop technical training programs for crew positions such as set designers, grips, and gaffers, and also encouraging experienced workers from other states to move to Louisiana.
>> Louisiana State Legislature [See Acts 456, 346, 485 from 2005 Session]
>> Good response to movie credit [2theAdvocate.com, 8/10/05]
>> Film industry booming, but where do you find the workers? [AP/Modesto Bee, 8/7/05]
Like this post? Be social & share it:
posted by mynette at
11:28 AM
