Nevada OKs TV/Film Production Tax Credit
As some of you may be aware, Tax Credits play a big part of where films and TV series get made.
Vancouver was at one time the 3rd largest production center in the world after Los Angeles and New York. Over the years however it has lot this ranking to other centers like London, Toronoto and Montreal after extremely competitive tax credits and shifts in talent pools eroded its foothold on the industry. That combined with Vancouver’s snobby unions and elitist public with anti-American, anti-business attitudes, its homeless problem and the high-tax/costs environment of BC has spelled its own demise. The exchange rate between the US and Canadian dollar hasn’t helped much either over the last 7 years. Experienced crews and “beautiful picturesque” landscapes don’t count for jack if you can get all that somewhere else for less and with less hassle.
Now, Nevada is giving tax credits a go. You can read more about it here. http://elkodaily.com/news/nevada-senate-oks-tax-credits-for-film-industry/article_1c09e7c6-c87f-11e2-9346-0019bb2963f4.html?goback=%2Egsm_46674_1_*2_*2_*2_lna_PENDING_*2
My advice to Nevada is to ensure that it develops its own talent pool and distribution and marketing infrastructure to go along with this. Something that other areas skip out on. BC had its chance for 30 years – but never did they actually take that money from revenues either privately or publicly and invest it into the components required to make it self sustaining, servicing it’s own market place and the rest of the world without the dependency on some executive in LA or network honcho in New York green lighting projects. It was and always will be a “Made to Order Factory”. So Nevada, when you get this going – learn from the lessons of BC.
One last thing – Keep the unions as far away from the industry as possible. Don’t let them control it. They will run it into the ground just like they did in BC for film and TV production and in Michigan for automotive production.
Best of luck Nevada. I’m gunning for you 🙂