Industry News Film Industry awaits effects of incentives
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BURBANK — Experts are hoping a new tax incentive program to keep film and television productions within California will help turn around local economies. Entertainment industry businesses are hoping they’re right.
Burbank-based Big Screen Cuisine, which caters for movie and television shoots at all major studios, saw an 80% drop in orders this summer from a year ago because of dwindling local film productions, part-owner Michael Glick said.
The company had to cut its staff from 20 workers to just four employees that rotated shifts during the summer, Glick said.
Although California’s Film and Television Tax Incentive Program, created by Democratic Assemblyman Paul Krekorian, will offer tax credits of up to 25% for qualifying film and TV shoots, Glick was weary that it would have a major effect.
Krekorian is scheduled hold a news conference today to detail some of the latest figures related to applications for the incentive program.
Other states, like Michigan, New Mexico and Georgia, offer higher tax incentives worth more than 30% of production costs in some cases.
If those locations remain more attractive, major motion picture and television studios will likely keep their sights set on other states as they look to trim costs when planning projects, Glick said.
“These guys are all business men,” he said.
Check back for updates on this story.
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