Given the current state of the economy. The geniuses at the state legislature are trying to find all sorts of ways to cut back and save a couple bucks so they can afford to probably pay for more important things such as million dollar water fountains or statues. So it seems like there’s a shortfall of incentive money for production companies that film their movies in our wonderful county. So how will this affect Hollywood? The answer is, that it won’t. Hollywood’s pockets won’t feel a thing because they’ll probably use this as an even better reason to move their productions to Canada (which is very profitable I hear). So who then is affected by this? Its all the local South Florida business owners that take advantage of the surplus of spending dollars that came from these multi-million dollar film projects. Here’s the story.
Filming in Florida just got less attractive
MIAMI (CBS4) – Florida’s film industry, which competes with other states attracting production by offering companies state subsidies, is expected to decline as lawmakers facing a $4-billion budget shortfall cut back on subsidies in our state.
The $25-million budget for the fiscal year, ending June 30th, provided a surge in South Florida productions: Miami-Dade said 46 movies requested permits in that time, up from 21 in 2005 and four in 2003. But there will be a reduced amount of money available as the legislature plugged holes in the state budget shortfall.
Florida reimbursed 15 percent of the money movies and television shows spend in the state, with a 5 percent bonus available for productions filming during hurricane season. Family friendly projects with no swearing, sex or smoking also qualify for another 2 percent rebate.
The state, beginning July 1st, will have only $5-million available for projects. Jeff Peel, Director of Miami-Dade Mayor’s Office of Film And Entertainment, told CBS4 Shomari Stone he’s disappointed over the state’s cutbacks as incentives to lure movies will suffer, as well as the revenues they bring.
County film and financial officials say they expect producers to look elsewhere if Florida can’t offer cash incentives.