Written by new-contact on Feb 16, 2011. Posted in Incentive News

Bill Clinton helps lobby for higher filming tax credits in Hawaii

Former US President Bill Clinton has written a letter to encourage the expansion of film tax credits on the Hawaiian islands of Maui and Oahu. Relativity Media and Shangri-La Industries want the credit expansion to develop production facilities.

At the moment Oahu offers a 15% tax credit, but the two companies are calling for an increase to 35%. They’re also calling for an increase to 40% on some of the neighbouring islands. The proposed changes include tax exemptions for hotel stays longer than 30 days.

Clinton, who has financial interests with both firms, wrote: The Shangri-La/Relativity commitment to build the most environmentally-friendly stages in existence, coupled with the economic benefits of this bill and Hawaii’s timeless appeal, will make Hawaii the most attractive place in the world to shoot a film.

Hawaii’s Tax Department faces an initial loss of nearly USD50 million if the bill is agreed. Shangri-La and Relativity argue this would be offset by the economic benefits of initial construction work and then a significant rise in the number of productions filming in Hawaii.