Tuesday, September 15, 2009
Michigan Using Tax Incentives to Lure Film Studios
NYTimes.com: "In the midst of a recession that has been particularly brutal in Michigan, a number of construction projects are on the verge of getting under way in a most unlikely business: the film industry."
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2 comments:
A few weeks ago, there was an article about a Pennsylvania tax break incentive. This is very much in the same vein. Now is a great time to get in the film business in places other than California because they;re out of money. The article mentions New Mexico, which is a terrific example because of a massive studio with all the best technology that is constantly filled with projects from various movies. Hopefully, these Michigan incentives will cause the same thing to happen. It has the possibility of changing the film industry completely.
I am always excited to hear about states giving tax breaks to the film industry. It helps to keep money in the US instead of overseas. In the past it has been really expensive to shoot in the USA. It was much cheaper to fly to a place like Prague or to go to Canada which is what happened. Years ago Minnesota had a similar program and when it got cut in 2002 you got a really good taste of the loss of that revenue. It was too expensive to shoot there so people decided not to. The state has recently worked to reinstate the program in the hopes of bringing back business. Michigan is doing themselves a lot of good by offering such a large rebate as well as building permanent studio spaces. I am eager to see how this all plays out.
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