Incentive Update 1-14-08

Posted 27 January, 2008 in FilmUSA

Please note that Illinois has an incentive bill which they are hoping will pass soon. Florida is technically out of money until 7/1/08, but if anyone in line drops out, monies will be available before 7/1/08.

January U.S. Production Incentives Update

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ALASKA – the new incentives bill has been drafted, and will be presented to the legislature soon. This will be one of the most generous incentives available, including a transferable tax credit of 30%, with an additional 10% for local hires. Quick action is anticipated. (Dama Chasle and Jeff Begun helped create this legislation, which is sponsored by Senator Ellis).

ARIZONA – applications for the current fiscal year are still being accepted. On February they will begin accepting applications for commercials and music videos.

ILLINOIS – the state did not renew its incentive program, which has consequently expired. The film commissioner hopes that a new program will be in place by the end of the month.

INDIANA – a new incentives program has been passed; details to follow.

NEW JERSEY – The increase to $30 million per year, which was approved last year but not signed by the governor, has again been presented to a legislative committee.

NEW MEXICO has clarified part of its program — per diem payments to both residents and nonresidents qualify when paid for services performed in New Mexico. Per diem payments to residents when providing services out of state do not qualify (although wages paid to residents while working out of state sometimes do qualify).

PENNSYLVANIA – applications are still being accepted for this fiscal year.

COLORADO, IDAHO, MICHIGAN, VIRGINIA and WEST VIRGINIA are working on major changes to their programs.

UTAH, FLORIDA, MARYLAND and MISSOURI are out of funds for the current fiscal year, but interested producers should contact the film commissioners, as funds sometimes become available. ______________________________________________________

1 comment to “Incentive Update 1-14-08”

Kim Greenfield, February 7th, 2008 at 9:28 pm:

New State of Michigan Tax incentive

Michigan is poised to open its checkbook in a big-time effort to convince film-makers to use the state as a backdrop for Film, Television and Commercial Productions.
The New State of Michigan Tax incentive legislation is expected to be in place by April 2008, the Tax incentive Package will be the most robust incentives package in the nation at a jaw dropping 40 %
What does that mean for Film, TV and Commercial Producers?
A 40 % Cash Back rebate translates into $ 4 MILLION + Cash Back rebate for every $ 10 MILLION spent in Michigan.

Michigan State Bi-Partisan Lawmakers and Gov. Jennifer Granholm are not only looking at increasing the size of the rebates,but adding other incentives to leapfrog Michigan ahead of states such as Louisiana, New Mexico and Connecticut.

Granholm visited with industry officials during a November 07 trip to California and plans to return after the legislation is passed in early 2008.
In the January 2008,State of the State speech Gov. Granholm said “We agree that we must pass the most robust incentives in the nation to spur growth of the film industry in Michigan.” .
With bi-partisan support of 140/0 in the House and 34/1 in the Senate, this bill is expected to pass with ease.

The State of Michigan is also working with the financial community to offer low- or no-interest loans to help finance projects.
The new tax incentives cover Film, Television and Commercial productions. With commercial productions alone the SAG office in Detroit is largest outside of NY and L.A. because of commercials Commercial industry generates 1 billion 250 million from SAG and IA alone not including other unions or areas.

With only 20 states offering an incentive program of any kind and the best states topping out at 25% - 35%, Michigan will be clearly ahead of the pack at 40%. With the diminishing value of the US dollar in Canada, the savings in Michigan is apparent.

LOCATIONS:The locations available in Michigan have always been impressive, a variety of landscapes from gritty urban backdrops (8 MILE) to the Lakes, Rivers, Shorelines,Beaches, an international Boarder and Unique visual settings not found elsewhere in the country within such close proximity to each other. For Filmmakers this poses a remarkable advantage when location scouting.

To see a sampling of locations in Michigan click :
http://www.michigan.gov/filmoffice/0,1607,7-248-46455—,00.html

If you would like further information about the Michigan Tax Incentive Package or Filming for assistance with your next production in Michigan feel free to contact me.

Regards,
Kim Greenfield
(248)798-4573
filmmichigan@gmail.com

Additional contacts:

Michigan Film Office
Director - Janet Lockwood
jlockwood@mi.gov
(517) 373-0638
(517) 241-2930 Fax

Michigan Film Office: http://www.michigan.gov/filmoffice