Film industry working with legislators on tax incentive - KSLA News 12 Shreveport, Louisiana News Weather & Sports

Film industry working with legislators on tax incentive

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  • Film industry in jeopardy of losing tax credits during legislative session

    Film industry in jeopardy of losing tax credits during legislative session

    Monday, February 23 2015 11:19 PM EST2015-02-24 04:19:05 GMT
    Monday, February 23 2015 11:19 PM EST2015-02-24 04:19:06 GMT
    The film industry is in jeopardy of losing funding this legislative session. Lawmakers are looking at trimming tax credits the state gives movie makers who do business in Louisiana. Some officials don't think it will shut down Hollywood South, but film industry experts say "not so fast."More >>
    The film industry is in jeopardy of losing funding this legislative session. Lawmakers are looking at trimming tax credits the state gives movie makers who do business in Louisiana. Some officials don't think it will shut down Hollywood South, but film industry experts say "not so fast."More >>
LOUISIANA (KSLA) -

With the state more than a billion dollars in the red, some Louisiana legislators are looking for areas to cut in the 2015 budget.

The popular and rather successful - but now controversial film tax credit for Louisiana appears to be on the chopping block.

“Let's face it, if we lose the tax credits, and there are no tax credits in Louisiana, there is no film industry,” said Diego Martinez, president of Millennium Studios in Shreveport.

Martinez says the idea of no movie industry in Louisiana is especially troubling considering Louisiana has led the way in incentive tax credits since 2002. Its mark has been made, not only in South Louisiana, but here in Shreveport as well.

"This is an industry that is dropping millions upon millions [of dollars] into the economy, and not just from those in the industry, we're talking about restaurants, hotels and lumber companies it effects so many people,” said Martinez.

Next week, legislators will introduce bills to reduce the tax incentives, or at least impose reform. Martinez says it's a day that's been coming for some time.

“We want to work with the state,” said Martinez.

The film industry will let Louisiana legislators know next Wednesday just how important it has become.

"Six or seven people out of the ten people who visit the state have had some influence from a television show or a movie they watched,” said Martinez.

In 2002 the film industry in Louisiana was novel, now Martinez argues it's grown to be a very important part of the economy.

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