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Louisiana film tax credits could be cut

Film Louisiana President Jason Waggenspack told a House committee that eliminating the program would hurt the state’s billion-dollar film industry.

Film crews parked up and down Soraparu Street in the Irish Channel neighborhood.

They are in New Orleans, shooting a national ad campaign for a new pharmaceutical product.

“The film incentive program is part of the reason we’re here,’ film producer Jon Simonetta said. “We’re really happy to come here and employ a lot of people in New Orleans and Louisiana.”

Simonetta from the New York and Los Angeles-based production company Fiona is producing the commercial.

"This job personally, I have 40 hotel rooms booked all around town, Airbnbs,” Simonetta said. “We’re getting everything from local vendors, food, we’re going out to dinner every night, 40 people traveling from all over.”

But the tax incentive program that drew Simonetta and his production to New Orleans may soon fade to black.

Gov. Jeff Landry is pushing lawmakers to eliminate many tax breaks like the film credit to lower the state’s income tax rate on individuals and businesses.

Currently, the program provides production with up to a 40 percent tax credit on total in-state expenditures.

Film Louisiana President Jason Waggenspack told a House committee that eliminating the program would hurt the state’s billion-dollar film industry.

“$180 million in our tax credit program goes out, $360 million goes directly to Louisiana residents and over $600 million in sales on top of that come to the state of Louisiana,” Waggenspack said. It’s the definition of economic development.

The Landry administration has said that lowering income tax will bring more jobs to the state.

Forty other states now offer similar tax breaks to the film industry based on the success of Louisiana’s program.

Simonetta had this advice for state lawmakers.

"Leave it alone because if you don’t, we won’t bring our films to your state.”

The bill that could gut the Louisiana film incentive program along with a host of other tax credits and deductions has already passed out of a House committee, and it is now waiting on action on the House floor.

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