Florida’s new filming incentive scheme becomes available from today in a bid to attract more productions to film in the state. The 2010/2011 Florida Film & Entertainment Industry Financial Incentive Programme will offer USD242 million in transferable tax credits over the next five years. Nearly USD55 million worth of this fund will be available for 2010/2011.
A controversial tax credit provision that was being considered for implementation in Florida has been dropped following concerns that films and TV shows featuring gay characters would be penalised, according to the Palm Beach Post.
Florida could soon introduce a tax credit provision that prioritises film and television production that is seen as promoting western conservative family values. This would favour productions that do not contain content such as sex, bad language or smoking.
The New York State film production tax credit has increased its allocation from USD350 million to USD429 million per year. This will start in 2010’s tax year and will be valid for five years. There will however be an increase in the percentage or number of shooting days that must be shot at a qualified facility.
The Governor’s Office of Film & Entertainment in Florida has announced that a film has dropped out of Queue ‘A’. This means that USD1.5 million of the 2008/2009 financial incentives fund is available again.
The Governor’s Office of Film & Entertainment has announced the results of an independent assessment of Florida’s film and entertainment industry, conducted by the Haas Center for Business Research and Economic Development of the University of West Florida.
Members of the Florida film industry are lobbying the State Legislature to pass a bill to restore the competitiveness of the state's incentives.
The second installment of the Florida Film and Entertainment Industry Economic Assessment has been released. The report states that the estimated economic impact of the Florida film and entertainment industry cluster grew from nearly USD27 billion in 2003 to USD29.2 billion in 2007.