Israel confirms increase in film funding
The Israeli Treasury will increase its film budget by nearly 16% to USD16 million this year. The money will be distributed to Israeli film funds, foundations and institutions by the Israeli Film Council.
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California passes tax incentive
The state of California has passed an incentives bill. The new legislation provides a tax credit of 20% (25% for independent features under USD10 million), with an appropriation of USD100 million per year for five years starting on July the 1st 2009.
MPA opens India office
The Motion Picture Association (MPA) has opened a local office in Mumbai and is set to bring Bollywood and Hollywood together to promote and protect intellectual property rights following its studios’ focused entry and recent investment in the Indian film and television industry.
UK delegation heads to Mumbai
To capitalise on the success of Slumdog Millionaire, a number of UK film companies will be attending India's FICCI Frames Entertainment Conference which starts today in Mumbai.
Utah incentive bill approved
Hoping to attract more filmmakers to Utah, a senate committee approved a bill last week that would allow production companies to receive up to 20% of their costs back if they shoot in the state. The current cap is 15%.
New studios for Michigan
The state of Michigan continues to take the film world by storm with the completion of two film studios in the Detroit area due to happen this year. The studios represent a USD150 million investment and will create over 5,000 new jobs.
Top law firm to close UK media division
Law firm SJ Berwin is to close its UK media division which specialises in media asset finance work.
Michigan studios to be built
Michigan is on the verge of completing a deal that will see three film and television studios, worth an estimated USD80 million, built in the southeast of the state.