Article in today’s Austin American Statesman examines why Shreveport has jumped well past Austin in the race for movie production sites. And, not suprisingly, it has much to do with the amount of money being offered by the state. Well worth reading the entire article.
Less than three years after Shreveport became Louisiana’s de facto film capital, the city’s movie industry is riding high. Thanks to aggressive statewide financial incentives, the casino-friendly city on the Red River has become one of the most attractive and busiest locations in the country for feature film and television production, surpassing Austin, once vaunted as Hollywood South, with stunning speed and volume.
Since late 2005, when Hurricane Katrina forced film production from New Orleans and Baton Rouge to the Shreveport-Bossier City area, Shreveport has seized upon filmmaking almost entirely on the power of a 6-year-old financial incentive program, which offers filmmakers 25 percent cash rebates (or tax credits) for all in-state spending on things like equipment rentals, food service, hotel rooms and, at a lower rate, labor. The primary rebates are five times the rate of Texas movie incentives.
Article in today’s Austin American Statesman examines why Shreveport has jumped well past Austin in the race for movie production sites. And, not suprisingly, it has much to do with the amount of money being offered by the state. Well worth reading the entire article.
Less than three years after Shreveport became Louisiana’s de facto film capital, the city’s movie industry is riding high. Thanks to aggressive statewide financial incentives, the casino-friendly city on the Red River has become one of the most attractive and busiest locations in the country for feature film and television production, surpassing Austin, once vaunted as Hollywood South, with stunning speed and volume.
Since late 2005, when Hurricane Katrina forced film production from New Orleans and Baton Rouge to the Shreveport-Bossier City area, Shreveport has seized upon filmmaking almost entirely on the power of a 6-year-old financial incentive program, which offers filmmakers 25 percent cash rebates (or tax credits) for all in-state spending on things like equipment rentals, food service, hotel rooms and, at a lower rate, labor. The primary rebates are five times the rate of Texas movie incentives.
Thanks for the link and the post! sometimes bad things can have some positive results, and this is a good example. Not only has the film industry created more jobs, it has given Northwest Louisiana and this entire state a boost in self esteem!
Article in today’s Austin American Statesman examines why Shreveport has jumped well past Austin in the race for movie production sites. And, not suprisingly, it has much to do with the amount of money being offered by the state. Well worth reading the entire article.
Less than three years after Shreveport became Louisiana’s de facto film capital, the city’s movie industry is riding high. Thanks to aggressive statewide financial incentives, the casino-friendly city on the Red River has become one of the most attractive and busiest locations in the country for feature film and television production, surpassing Austin, once vaunted as Hollywood South, with stunning speed and volume.
Since late 2005, when Hurricane Katrina forced film production from New Orleans and Baton Rouge to the Shreveport-Bossier City area, Shreveport has seized upon filmmaking almost entirely on the power of a 6-year-old financial incentive program, which offers filmmakers 25 percent cash rebates (or tax credits) for all in-state spending on things like equipment rentals, food service, hotel rooms and, at a lower rate, labor. The primary rebates are five times the rate of Texas movie incentives.
Thanks for the link and the post! sometimes bad things can have some positive results, and this is a good example. Not only has the film industry created more jobs, it has given Northwest Louisiana and this entire state a boost in self esteem!
There is nothing good about those film tax incentives. Yes there is a lot going on in the state film wise but those incentives are so rich we are all subsidizing it. There is no way to tell the jobs it cost the state because of the capital that has been diverted to the film business in the State’s effort to direct our taxes toward the select few in the film business.
If the state wants to give me 25% of my expenses I will employ 5000 people within 18 months. Don’t know what they will be doing but I will find something.
Article in today’s Austin American Statesman examines why Shreveport has jumped well past Austin in the race for movie production sites. And, not suprisingly, it has much to do with the amount of money being offered by the state. Well worth reading the entire article.
Less than three years after Shreveport became Louisiana’s de facto film capital, the city’s movie industry is riding high. Thanks to aggressive statewide financial incentives, the casino-friendly city on the Red River has become one of the most attractive and busiest locations in the country for feature film and television production, surpassing Austin, once vaunted as Hollywood South, with stunning speed and volume.
Since late 2005, when Hurricane Katrina forced film production from New Orleans and Baton Rouge to the Shreveport-Bossier City area, Shreveport has seized upon filmmaking almost entirely on the power of a 6-year-old financial incentive program, which offers filmmakers 25 percent cash rebates (or tax credits) for all in-state spending on things like equipment rentals, food service, hotel rooms and, at a lower rate, labor. The primary rebates are five times the rate of Texas movie incentives.
Thanks for the link and the post! sometimes bad things can have some positive results, and this is a good example. Not only has the film industry created more jobs, it has given Northwest Louisiana and this entire state a boost in self esteem!
There is nothing good about those film tax incentives. Yes there is a lot going on in the state film wise but those incentives are so rich we are all subsidizing it. There is no way to tell the jobs it cost the state because of the capital that has been diverted to the film business in the State’s effort to direct our taxes toward the select few in the film business.
If the state wants to give me 25% of my expenses I will employ 5000 people within 18 months. Don’t know what they will be doing but I will find something.
And remember what Gary Beard did..... got the tax incentives and sold them.
But IB, given the nature of the film industry, and the exposure of the state in these films possibly increasing tourism, do you think they may be worth it?
But IB, given the nature of the film industry, and the exposure of the state in these films possibly increasing tourism, do you think they may be worth it?
nope
I don’t think the general public understands how rich the incentives are. They will give you 25% or your expenses---not investments or your income---in the form of marketable tax credits not deductions. These out of state firms set up LLCs, do the films, grab the credits, sell them and then leave with the cash. No investments are left to tax or the like.
A privately owned LLC could theoretically set up the whole family with big salaries collect the tax credit and be way ahead. I feel sure expenses are overstated to collect the credits in a lot of cases.
But IB, given the nature of the film industry, and the exposure of the state in these films possibly increasing tourism, do you think they may be worth it?
nope
I don’t think the general public understands how rich the incentives are. They will give you 25% or your expenses---not investments or your income---in the form of marketable tax credits not deductions. These out of state firms set up LLCs, do the films, grab the credits, sell them and then leave with the cash. No investments are left to tax or the like.
A privately owned LLC could theoretically set up the whole family with big salaries collect the tax credit and be way ahead. I feel sure expenses are overstated to collect the credits in a lot of cases.
It is a boondoggle.
Yeah, I guess it is a bad thing to hear a movie star talk about how great Shreveport, Louisiana is on the David Letterman show, and that he loved playing golf there and the casinos and such. surely no one was watching that night, and would not want to come and visit. It is all negative right?
