JUNE 2010 INCENTIVES UPDATES
Applications for the California incentive program will be accepted starting June 1, 2010. $100 million is available for the fiscal year starting July 1, 2010, of which at least $10 million is earmarked for “independent” films. The definition of an independent film has changed; previously, it was a film budgeted at under $10 million. Now, it is a film with qualified California spend of under $10 million.
Florida’s Governor has signed the new legislation, which provides a transferable credit of 20% plus possible bonuses, with $242 million available over the next 5 years. The Governor will participate in a live teleconference on Wednesday, June 2 from 10:00 AM PST to 11:30 PST, to discuss and answer questions about the new program. Questions should be submitted in advance by email to Film.Incentive@MyFlorida.com. Information about the new program is available at http://www.filminflorida.com/ifi/incentives.asp. The call-in number is 1-888-808-6959, and the Conference code is 4104765.
EUE Screen Gems, the New York-based production company that owns EUE Screen Gems Studios in Wilmington, NC, has leased a portion of the Lakewood Fairgrounds outside of Atlanta, and will convert the space to a state-of-the-art studio complex. They will join Atlanta Studios, which currently operates one stage, and is in the process of creating a facility similar to Albuquerque Studios in NM.
Maryland currently has $3 million remaining incentives funds available for a film planning to shoot this summer. Interested producers should contact Jack Gerbes at 410-767-6343, or JGerbes@choosemaryland.org.
Oakland County has approved a $28 million bond issue, the last part of the financing for Raleigh Michigan Studios located on the grounds of General Motors Co.’s former Centerpoint Campus in Pontiac. Construction plans to now move ahead; a production services facility (buying service for local and out-of-state equipment) is now operational.
Although the Governor has recommended continuing the film program, with a substantial allocation for the next fiscal year, the measure is still before the state legislature. A decision is hoped for in the near future.[ Source: The Incentives Office ]