Tax Incentives Lure Productions to Michigan - 15% Not Enough in Indiana

POSTED BY txactor on Aug 23 under Acting, Actors, Auditions, Austin Film, Directors, Film Distribution, Filmmakers, Filmmaking, Indie Film, Louisiana Film Production, New Mexico Film Production, Producers, Residuals, SAG, SAGIndie, TXMPA, Tax Incentives, Texas Actors, Texas Film Production Fund, Texas Filmmakers, Texas film

Here’s an excellent article on state film incentives from Indy.com

In Texas we are HOPING to get the legislature to increase our incentive from the current dead in the water 5% to a comparatively modest 15%. We are hoping that the existing infrastructure will make 15% more competitive. So far, 15% hasn’t primed the pump much for Indiana. Notice that Texas is not on the list at the end of the article of states offering competitive film incentives.

Here’s an excerpt from the Indy.com article:

Even Bloomington’s Angelo Pizzo, the writer/producer of two of the most quintessentially Indiana movies, “Hoosiers” and “Rudy,” admits that if forced to choose between shooting his next projects here or in another state with better incentives, it might be hard to persuade his financiers to stay here.

“One of the reasons I got behind the (incentives) bill is there are a number of projects I’m involved with that I want to shoot in Indiana. And right now, I’m faced with a real dilemma. Do I, out of sentiments, out of wanting to support the film business in Indiana, do it for 15 percent here, or for 42 percent (in Michigan)?” he said. “Economically, it’s hard for me to justify.”

Pizzo said that even on a low-budget project of $5 million or $6 million, the difference between Indiana’s incentives and other states offering 25, 30 percent and up can come to a million dollars or more. For his long-gestating feature film about the Indianapolis 500, with a budget of at least $70 million, the savings (in other states) would be astronomical.