Bloomberg: Hollywood CA Losing Blockbusters as ‘Iron Man’ Seeks Tax Subsidies

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Old 05 May 2013   #1
Bloomberg: Hollywood CA Losing Blockbusters as ‘Iron Man’ Seeks Tax Subsidies

Hollywood is struggling to hang on to its blockbuster movies as states such as North Carolina and countries like Canada offer subsidies for producers to shoot films far from the traditional studios of Los Angeles.

This summer marks an acceleration of the trend, with 11 of the 12 action films projected to gross more than $100 million shot somewhere other than southern California. “Iron Man 3” was filmed in North Carolina, letting Walt Disney Co. collect about $20 million in subsidies, while “White House Down” was made near Montreal. Producers of the Sony Corp. (6758) film may recoup as much as 40 percent of their local spending

http://www.businessweek.com/news/20...s-tax-subsidies
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Old 05 May 2013   #2
Hasn't that been the case for years though? That shooting in California is pretty expensive?
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Old 05 May 2013   #3
Well it used to be remarkable if a film is shot outside California. Now the reverse is true as hardly any are being shot in Cali anymore.
 
Old 05 May 2013   #4
Tax Breaks/Film Subsidies like most Government sponsored incentives more often than not fail. Many of the States that offered lucrative subsidies in the past few years have either scaled back or stopped supporting the movie industry altogether. At best they offer only temporary employment opportunities, at worst they simply give politicians photo ops.
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Old 05 May 2013   #5
Wink

Did iron man really need the incentives? When that movie was coming out (and even now) I keep seeing clips from the movie disguised as subway commercials, audi adverts, or a mini iron man in Verizon commercials!

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Old 05 May 2013   #6
Hollywood needs incentives...apparently.
'Something' has to pay for the marketing.
 
Old 06 June 2013   #7
nicholas cage was in nevada not too long ago promoting filming in nevada for tax reasons.

http://www.nevadaappeal.com/news/go...cage-nevada-tax
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Old 06 June 2013   #8
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