Know More About Louisiana Film Tax Credit
While Louisiana may give a seemingly good deal in its -30% transferable incentive for total and state expenses related to the production of a film, there exist some major disadvantages in shooting there as compared to other states.
While tax incentives generate economic advantages to that specific state, secondary economic advantages also take place. One example is film induced tourism or FIT. However, Louisiana hosts numerous films, all of which have not increased or even experienced film induced tourism.
A number of other states in close proximity have both tax incentives and have been witnessing movie induced tourism for the past decade like Georgia and North Carolina. Although relatively ideal for a production with a rural or suburban setting, Louisiana is very well-known and does not have that "Anywhere, USA" adaptability that other cities say Atlanta or Wilmington have. Unlike Louisiana, North Carolina has beach locations that are comparable to that of California, minus the high Hollywood production cost. Moreover, travel in and out of Louisiana, specifically New Orleans, is not very easy, especially since Hurricane Katrina's devastation and the resulting infrastructural failures. Once more, Atlanta gives a really practical substitute for Louisiana, as Atlanta hosts the busiest airport in the country and also offers very flexible travel arrangements that any production officer could require. Plus, EUE/ Screen Gems, a well-known film and tv production company, are conveniently located six miles from Atlanta's Hartsfield- Jackson Atlanta International Airport.
Louisiana has been struck really hard by the latest economic depression as well as natural disasters, forcing a number of locals to relocate somewhere else. The outflow of the labor force has proved to be damaging to the film industry as many laborers are now earning a living for other companies not located in Louisiana. Without a convenient airport nearby and a labor force that has been reducing within the last couple of years, the movie industry in Louisiana isn't what it used to be. Even though big movies have been filmed there, they're mostly computer animated and television shows are leaning more towards the production sites in North Carolina and Georgia. In fact, EUE/ Screen Gems is now home to over 9 tv programs this year, including a 9th Season of "One Tree Hill" which is currently being shot in Wilmington, North Carolina.
It's very important to offer a functional location for filming when selecting production studios to work with. As stated earlier, although Louisiana may offer cost-effective alternatives by means of extensive tax incentives, it doesn't provide a convenient urban location for filming. While New Orleans is an enjoyable place full of culture, it is distinctive and well-known, and truly cannot be used when searching for a "generic city" type feel. Thus, if a movie or television show requires urban scenes, it's likely that they will have to go to a close convenient city, increasing production expenses with transportation fees for stars, staff, and crew. This trouble seems unnecessary when EUE/Screen Gems production studios in Wilmington, North Carolina and Atlanta, Georgia have the 2 biggest stages eastern side of California.
While the cost of film production continues to rise, tax incentives were approved to actually cut production costs and also encourage the domestic economy in Louisiana.This Louisiana film tax credit is the new backbone of film financing equations.
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