Decline of film projects in Texas

This is an example of positive news and negative news to film-manufacture of Texas aspiring on at least slightly a level the playing field with Louisiana and New Mexico. The legislative body has approved expendable of $20 millions program of film stimulus within the next two years, but missing from the bill is an actual funding source for the incentive plan, which also includes -- others of $10 million in tourism dollars.
From the end of legislative session on Monday, May 23 no source of financing was found, but with Gov. Rick Perry, quoted stimulus of film-manufacture as one of his priorities for session, one source likely to be considered is the Texas Enterprise Fund, a $180 million program set up in 2003 to lure jobs to the state.
“The Austin-based IATSE stagehands union is among a host of Texas groups, including in particular the Dallas Film Commission, that have effectively used the Internet to marshal forces in support of incentives. It's been a tough ride. They saw funding stripped from the Senate bill, then last week the House took the bill on with seconds to go on its deadline to agree to consider Senate items. A separate bill seeking to broaden hotel/motel tax exemptions for film projects died.”(1)
Even if $ of 20 millions is found, it will be battle of rise to reflect more ambitious offers in our next states. Louisiana has seen film production dollars spent there jump up from $ 20 millions in from 2002 up to $335 millions in 2004, and and dished out $56 million in incentives last year. Some there say, that this is too much, and a Legislative body of Louisiana considers restriction outlays. “Occasional Chronicle contributor Jeff Nightbyrd recently opened a New Orleans branch of his Austin-based Acclaim Talent. "The Louisiana film incentive program offered a unique opportunity for expansion," he says. "We are working on 18 films at the moment that are in production or preproduction – largely in the New Orleans area."(1)
In the meantime, in New Mexico, the cap under the loans for a project has been raised from $ of 7.5 millions up to $ of 15 millions and tax concessions - 80 which % is paid up front - has jumped up from 15 % up to 20 %. New Mexico drew $350 million in film projects last year spurred by $83 million in tax credits.



1. http://www.austinchronicle.com/gyrobase/Issue/story?oid=oid:273383