Louisiana’s film industry could see a revival following the passage of Senate Bill 232, which updates the state’s film incentive program. Film Louisiana President Jason Waggenspack says the new law removes outdated caps, including a $20 million limit on production costs and a $3 million per-person payroll cap, aiming to make the state more competitive with international filming locations.
“It allows for studios to come and talk with LED, and make a bigger deal. If you’re going to come in and you’re gonna bring multiple projects over the course of multiple years and you’re gonna spend hundreds of millions of dollars maybe on an annual basis, why not come and talk with LED?”
Productions can now receive a 40% tax credit on in-state spending, with a 15% bonus for hiring Louisiana residents. Waggenspack says the reforms could attract larger productions and talent. He says the industry generates around $1 billion annually…
“That’s 10,000 jobs that the industry provides here locally on an annual basis. And $350 million of that billion dollars is going directly to Louisiana residents.”
Waggenspack noted an LED study showing that for every dollar spent, 6.12 is returned into the local economy.
“It’s a no-brainer. People are seeing the return on investment, they’re seeing the opportunity in jobs, and are getting a high-paying job to come and work in the film industry.”
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