LA Studio Boss Hopes Sluggish Movie-Making Industry Rebounds
BATON ROUGE (AP) — The head of Louisiana's largest film and television production studio says he hopes to see the sluggish movie-making industry rebound in the coming year after a steep downturn that followed changes to the state tax incentive program.
Patrick Mulhearn, director of Celtic Media Centre, says he's cautiously optimistic.
The Advocate’s Elizabeth Crisp reports the Baton Rouge Metro Council has approved a new 2-cent tax rebate on every dollar of purchases related to movie production — a move that Mulhearn said could help as the industry tries to build back.
The generous incentives that Louisiana has offered to the film and television industry were frequently targeted as Louisiana cycled through repeated budget shortfalls.
The Legislature, looking to rein in the tax credit program's ballooning costs in 2015, approved a $180 million yearly cap on credits for the next three years.