New filmmaking diaspora means heavy competition for Hollywood
12/29/2013 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Los Angeles – Filmmaking tax breaks and other incentives have enticed many filmmakers to choose shooting locations other than the traditional preference of Hollywood. As reported by the Associated Press (AP), competition for California has risen steadily as governments across the globe offer new deals to studios.
A U.S. federal incentive, which allows a tax-deduction of up to $20 million per film, is set to expire at the end this year, which some suggests will prompt even more to film in other places. Hal “Corky” Kessler, a tax incentives lawyer with Chicago-based Deutsch, Levy & Engel, is quoted by the AP as stating, “Once our federal incentive ends in two weeks, you’re going to have a lot of people who are going to go elsewhere.”
As noted by the AP filmmaker James Cameron recently announced plans to shoot the next three sequels to the box-office hit “Avatar” chiefly in New Zealand. Producer Jon Landau is quoted as stating of the decision, “There’s no place in the world that we could make these sequels more cost effectively.”
This report is provided by Justice News Flash – Los Angeles Legal News
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