Saturday, September 5, 2009

Iowa Welcomes Filmmakers

In May 2007, Iowa began offering filmmakers financial incentives to produce their projects in Iowa in the form of transferable income tax credits valued up to 50 percent of the total qualified spending in Iowa.
For many filmmakers, it was an offer they couldn't refuse, and they've been beating a path to Iowa's door ever since.
Similar bills have been passed in most other states in the country. The results, by almost all accounts, is a boon to state economies.

The Iowa Film Office reports that, since 2006, only two movies had been filmed in the state. Since the tax incentives came along, fourteen films have come to the state.

Recent Iowa film projects include Polynation Pictures’ "The Scientist" and Reel Entertainment’s documentary on RAGBRAI, the yearly cross-Iowa bicycle trek. Upcoming projects include a horror comedy and Ten/Four Pictures’ production of "Lucky."

The tax incentive seems to be working for Iowa. Council Bluffs city officials report that the production companies rent hotel rooms, office space, hire local actors and crew members, and buy food, fuel, and entertainment—all of which means money for the local economy.

A similar tax incentive has been knocking on doors at the Nebraska state legislature for the last two years, but has been left out in the cold. Nebraska is one of a small handful of states that do not yet have a tax incentive program for filmmakers.

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