‘Hobbit’ Trilogy Price Tag Over Half A Billion Dollars (So Far)

By | Friday October 4, 2013 @ 5:00pm PDT

Warner Bros.‘ three Hobbit films have racked up over half a billion dollars in production costs, reports the AP, citing Kiwi financial filings that say Peter Jackson has spent $676 million New … Read More »

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New York State Grants $4.5M To New Post, VFX, And Animation Co.

By | Friday July 12, 2013 @ 2:29pm PDT

New York Governor Andrew Cuomo today announced the creation of a new post-production, VFX, and animation company to be established at the Tri-Main Center in Buffalo, NY. Empire Visual Effects and Daemen College will partner on the project which is expected to bring 150 new jobs within five … Read More »

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MPAA Study Says That Massachusetts Film Tax Incentives Boosted Spending And Jobs

The new study provides some statistical ammo for those in the Commonwealth who like the tax break, and are still smarting from a state Department of Revenue report in March that raised questions about whether it makes sense. The … Read More »

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Georgia Studio Project, NY Bid To Lure ‘Tonight Show’ Spotlight LA’s Competition

Ross Lincoln is a Deadline contributor.

Medient Studios, a Los Angeles-based production and distribution outfit with a presence in India, has announced plans to build a $90 million movie studio near Savannah, GA in a deal cleared this week by the Effingham County Industrial Development Authority. Although the deal may end up being good for Georgia, it comes during a precarious time for the Los Angeles-based entertainment economy — even with large-scale expansions underway at NBC Universal, Disney, and Paramount.

Related: NY State Tax Break Tailored For ‘Tonight Show’s Return To NYC

Despite an overall increase in movie, TV and commercial production, Los Angeles saw a steep drop in television drama and reality TV production in 2012, a problem the city has attempted to address at least partially by eliminating fees for pilot production. And places like New York, Louisiana, and Michigan as well as Georgia continue to pursue production business aggressively.

Related: Post Production Work In New York Rises From Higher Tax Breaks

“Of course, we’d prefer these kinds of investments be made in the State of California instead of in Georgia,” FilmLA VP of Integrated Communications Philllip Sokoloski told Deadline. “Although the L.A. region has its own studio developments in progress, infrastructure development elsewhere can only intensify the competition we face for valuable film projects and jobs.” Read More »

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New Mexico Gov. Now Expected To Sign Film Tax Credit Increase In Revised Bills

By | Saturday March 16, 2013 @ 3:28pm PDT

UPDATE 3:30 PM SATURDAY: After Gov. Susana Martinez vetoed the measure on Friday, the state House and Senate repackaged the film and TV tax credit as part of broader legislation to provide tax cuts and other incentives for more types of business. The production tax credit will rise … Read More »

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Hollywood Wins Tax-Break Extension In Fiscal Cliff Agreement

Studios enjoyed their best year ever at domestic box offices in 2012 — but still managed to persuade lawmakers that movie and TV investors need a sweet tax deduction to keep the cameras rolling in the U.S. The new agreement to avoid the so-called fiscal cliff collection of spending cuts and tax hikes includes a provision enabling investors in productions shot in the U.S. to deduct the first $15M of the costs or $20M if the shooting takes place in low-income areas. Investors love the break, in Section 181 of the Internal Revenue Code, because they can take the entire deduction in the first year instead of spreading it over several years, and can combine it with state tax credits. It began with the American Jobs Creation Act of 2004 and in 2008 was amended and extended to the end of 2011. But Congress didn’t renew it in time for 2012 productions. No matter: the package that lawmakers just approved will provide the deductions for productions made in 2012 and 2013. Read More »

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Post Production Work In New York Rises From The State’s Higher Tax Breaks

By | Wednesday November 28, 2012 @ 11:45am PST

New York Gov. Andrew Cuomo’s Office for Motion Picture and Television Development is taking a victory lap today, saying that tax breaks the administration supported resulted in a record 24 film and … Read More »

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New York State Triples Post-Production Tax Credit To 30%

By | Thursday July 26, 2012 @ 7:43am PDT

The credit could go as high as 35% for work done upstate — where officials are especially eager to promote economic development. Since the program began in 2004, the state has issued $1.04B in tax credits for projects with an estimated economic value of $7.57B.

Related: TV Production Takes Another Big Hit Says FilmL.A.

Here’s today’s release:

Governor Andrew M. Cuomo today signed legislation that will strengthen existing incentives offered by the state to attract additional film post-production activity to New York.

Since the state began offering tax credits to support the film and television industry in 2004, producers have spent more than $7 billion in New York. The new law signed today is designed to expand state support by specifically focusing on attracting post-production work to communities in all corners of the state.

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State Film Tax Credits Good For Local Economies: Study

By | Wednesday May 9, 2012 @ 9:56pm PDT

An MPAA-commissioned study released by Ernest & Young today concludes that state film incentive programs are good for local economies – and not just if you work in the business. “The economic benefits to residents extend beyond the production activities themselves and include increased activity by suppliers to the film industry and increased consumer spending from higher incomes,” says Robert Cline, E&Y’s National Director of State and Local Tax Policy Economics and co-author of the Evaluating the Effectiveness of State Film Tax Credit Programs study. Thirty-seven states currently have film credit programs. The programs, with Louisiana, Illinois, Florida and Georgia among the most utilized by studios in recent years, draw from an estimated $1.2 billion in tax dollars annually nationwide. While providing few hard numbers, the E&Y report notes that some of the long term benefits a state with a film incentive program can enjoy are increased tourism, if the location ‘plays itself’ in productions, infrastructure development and seasoned local crews which can lead to increased tax revenues, spending and investment. Read More »

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