Updates by Jurisdiction
For more information on incentives in each state, visit the Production Incentives map on our website and click on the state of interest.
The Greater Palm Springs Convention & Visitors Bureau has launched a production incentive program with $100K in annual incentive funding. The program, launched through the bureau’s Film Oasis operation, is available for features, scripted and unscripted television, commercials, and still photography shoots. In order to qualify for funds, a production must spend a minimum of $25K in permits, lodging, and meals in the Coachella Valley. (See Variety)
The California Film Commission has selected two big-budget films – “Call of the Wild” and Quentin Tarantino’s “Untitled #9” – as recipients of the state’s production tax credit. The commission noted that such projects would have been ineligible for tax credits under the state’s first-generation Program 1.0, which was closed to films with budgets exceeding $75M. (See Variety)
SB1502a has been signed by the Governor, which permanently extends the moratorium on feature films, defined as films for theatrical release. Films made for TV and streaming services are still eligible. Theatrically distributed feature films can still potentially qualify if 25% or more of the principal photography shooting days are at a facility that receives not less than $25M in private investment and opened for business on or after July 1, 2013.
The Governor signed HB 542, which establishes criteria for the Department of Revenue to designate not more than two film production tax credit districts for the purpose of enhancing, promoting, and expanding film production opportunities and establishing a film production industry within the state.
For more information on incentives around the world, visit our website and click on the country of interest.
Kenya is seeking to develop incentives to help boost the film sector. State-owned Kenya Film Commission (KFC) Chairman Chris Foot told an international film forum in Nairobi that one of the key challenges facing the film sector is lack of finance. Foot also noted that to create more job opportunities for the film sector, the level of local content by broadcasters needs to be increased by 60%. (See Xinhuanet)
EPFS Locations Spotlight
EP Financial Solutions is a primary contributor to Variety‘s “Artisans” Feature, spotlighting various filming locations around the world. Here are the locations we have covered in recent weeks.
While the state of Missouri still does not offer production incentives for film and television, the Kansas City Film Office is determined to lure filmmakers into its city limits. The municipality now provides a potential 10% rebate on qualified spend for film, television, and commercial projects which meet its minimum spending thresholds. The incentives put the city’s urban excitement and small-town charm within easy reach of Hollywood.
Movie buffs know Austria best through two classics: 1949’s “The Third Man” and 1965’s “The Sound of Music,” both of which were filmed at multiple locations in the country. But many other pictures have also been shot against Austria’s craggy Alpine landscapes, picturesque villages, and historic capital of Vienna.
What’s more, today, Austria entices producers with a grant of up to 25% on qualified spend.
Producers who go to Colorado to shoot their projects may already be familiar with the state if they’ve frequented Vail and Aspen, its major ski resorts. They appreciate Colorado’s diverse geography, which includes the scenic Rocky Mountains, stretches of desert, and deep woodlands, as well as Denver’s cityscapes for urban-set films and TV shows. But most important, Colorado offers them a 20% cash rebate.
Canada’s Ontario province, the country’s most populous, has long been a hotbed of production – especially film and TV projects from Hollywood that are seeking a solid infrastructure and experienced crews.
Responding to this demand, Toronto – Ontario’s largest city – has over the years become home to many modern soundstages and production service companies. Filmmakers and TV producers can also rely on the province’s deep base of experienced film crew. Plus, stateside producers can avail themselves of a favorable exchange rate, where 80 U.S. cents can buy one Canadian dollar, and a 21.5% refundable tax credit that can be combined with Canada’s 16% federal incentive.
EPFS in the News
Early in November, Joe Chianese – Executive Vice President of EP Financial Solutions – moderated two separate panels at this year’s American Film Market in Santa Monica, CA. The first panel, “The Future of Global Film Finance,” focused on the proliferation of streaming services around the globe and explored tomorrow’s trends in independent filmmaking – from financing to distribution. The second, “The Film Finance Matrix: From Script to Screen,” explored in-depth five various scenarios of independent filmmaking with some of today’s top voices in film production. Read more about these panels on Screen Daily or The Huffington Post.
DISCLAIMER: These materials have been prepared by Entertainment Partners for informational purposes only and should not be construed as tax advice or relied on for specific projects. Though every effort has been made to remain current, laws and incentives change and therefore this information may have been revised. Please contact your legal or tax advisors to confirm any laws or the effect of incentives on your project. For updates and more information, please visit our website at epfinancialsolutions.com.
Providing links to other sites shall not be construed as an endorsement by Entertainment Partners of the linked websites or the opinions expressed on such websites.