Bring Blockbusters Back To California With Increased Film Incentives, Says FilmL.A.

In a study released today on feature film production in California in 2013, FilmL.A. has added its voice to the chorus wanting an increase to the entertainment industry tax incentives the Golden State offers. While the opinion is nothing new for the nonprofit local-permitting organization, the basis of its latest argument is: We need more blockbusters. According to FilmL.A.’s 6-months-in-the-making report, California is tied for second place with the entire country of Canada for the location where most feature films released last year were made. Introduced in 2009, California’s current $100 million Film and TV Tax Credit program does not allow pics with budgets of more than $75 million to be eligible for its annual lottery. “For a program intended to help reverse runaway production, California’s incentive entirely ignores film projects carrying the greatest economic value with the greatest propensity to run away: big‐budget features,” says the 2013 Feature Film Production Report. Even with an increase in overall feature production in California last year, the only 2014-released pics with budgets of more than $100 million that were partly made in the state are Interstellar and Disney/Marvel’s Captain America: The Winter Solder. Removing the cap on blockbusters is one of the elements of new legislation introduced on to expand the state’s program.

Related: California Pols Unveiling Bill Today To Expand Film & TV Tax Credit Program

(more…)

This article was printed from https://deadline.com/2014/03/filmla-blockbusters-report-california-state-film-tv-tax-credit-694629/