Written by new-contact on Apr 29, 2011. Posted in Incentive News

Twilight and Green Lantern benefitting Louisiana economy

Big-budget projects Twilight and Green Lantern are among those benefitting the economy in Louisiana. For every dollar Louisiana issues as a tax credit for film productions, the state economy makes USD5.71, according to a new report.

State-wide economic output from entertainment projects generated over USD1 billion in 2010 alone.

The report, from private consulting company BaxStarr, said: “Louisiana has been able to market itself effectively as a place for various types of film production, primarily movies and television. Each part of the state has been able to leverage its various assets: from scenic beauty (bayous, woodlands, Gulf of Mexico, lakes), to history and culture (plantations, historic buildings and New Orleans’ French Quarter).”

Green Lantern is likely to be issued credits worth nearly USD35 million from a USD114 million local spend, while Twilight will receive credits worth nearly USD30 million.

Louisiana has a hugely competitive transferable tax credit of 30%. Despite being set in California, Battle: Los Angeles spent just over USD45 million in Louisiana and was awarded tax credits of nearly USD14 million.

Green Lantern is likely to be issued credits worth nearly USD35 million from a USD114 million local spend, while Twilight will receive credits worth nearly USD30 million from a Louisiana spend just shy of USD100 million.