The film tax incentive market supporting the domestic film budget of feature film and television production across the United States continues to undergo a massive assault of new political realities. The new austerity facing local governments combined with long festering modalities and economic theories have lead to the biggest rollback and shear elimination of state incentivized filmmaking in historical terms.
The states enacted film tax credits to counterbalance runaway production film budget expenses to other countries, mostly Canada and Eastern Europe. At a time when the cost of making a movie in the US was steadily increasing, and likewise the film budget of those productions, the film tax credit helped keep production dollars at home and brought that spend to the state and local level.
As these subsidies dry up a major element of film finance is disappearing and the trend will be to offshore film production once again. California understands this, as do several states, including Louisiana and they will be the victors in attracting inward spending of the production film budget dollars of movie and television productions.
Filmbudget.com
The states enacted film tax credits to counterbalance runaway production film budget expenses to other countries, mostly Canada and Eastern Europe. At a time when the cost of making a movie in the US was steadily increasing, and likewise the film budget of those productions, the film tax credit helped keep production dollars at home and brought that spend to the state and local level.
As these subsidies dry up a major element of film finance is disappearing and the trend will be to offshore film production once again. California understands this, as do several states, including Louisiana and they will be the victors in attracting inward spending of the production film budget dollars of movie and television productions.
Filmbudget.com
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