In the motion picture industry film finance and film tax incentives require a film budget which is custom created by a veteran line producer. Investors likewise insist on having a detailed, accurate and reliable film budget created for their film financing endeavors. Reliable film budgets are also fundamental for bank loans, equity, gap financing and for foreign sales agents to review a project.
A movie budget is naturally needed also for a Completion Bond company to take on a film production for consideration and bonding, which is a necessary step for film finance as well. By having accurate and proven numbers these companies and individuals may realistically evaluate your movie production proposal. Whether you are in the market for an indie film budget and schedule or a major studio movie budget, FilmBudget.com has many years of experience at both.
Without numbers to back up your pitch everyone in the room is guessing at what the film budgets may be rather than having a solid knowledge. Additionally, without film budgets in hand, those requesting funding certainly appear unprepared and lacking the knowledge and experience to surround themselves with a professional producer whom can create the movie budget and speak to its authenticity.
You may only get one shot at your investors. Make sure it’s the best presentation of a film finance plan, film budget and schedule that it can be. Contact Filmbudget.com for film tax incentives, credits, co-productions and detailed film budgets by a seasoned professional with decades of experience on set and in the trenches!
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Carrie Jones, the Michigan Film Office Director, has just released the Michigan Film Office 2010 Annual Report. The report is required by regulation and details the Michigan film tax incentive activity for the year. Facts and figures shed light on the films and amounts spent and the film incentive approved for the growing Michigan film and entertainment industry.
The key fact for 2010: $293 Million was spent by productions shooting in Michigan. $115 Million in Michigan film incentives were given as a rebate on the expenditures. A net inward spend of $178 Million.
Let us repeat this math as so many fail to grasp its simplicity: $293 Million inward spend – $115 Million rebate on the spend = $178 Million in net inward production spending.
These are the hard facts the opponents and the destroyer of a growing and flourishing creative industry do not want you to know. Likewise they don’t wish you to focus on the Ernst and Young Economic and Fiscal Impacts Report of the Michigan Film Credit (below) that for every $1 (one dollar) spent on the film incentives an additional $6 (six dollars) was created in economic activity.
The Michigan film tax incentive programs support film budgets of all levels from $50,000 to over $100 Million Major Studio blockbusters which employ thousands of hard working film crew. The incentive (actually a rebate) provides incentive for inward investment for movie production, television programming, games creation, visual effects companies (VFX) and music recording. It has launched companies in Michigan dedicated to employe, teach and grow our film crew base and technical assets, including the Raleigh Michigan Studios in Pontiac which is resurrecting an old truck plant and creating jobs.
Contact your representative and tell them to save the film incentive program.
Film finance and film tax incentives require an accurate and proven film budget from a veteran film producer. Filmbudget.com is the international leader in worldwide film budget and schedule services and global film tax credits. Contact Filmbudget.com to move your production from script to screen.
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Read the Ernst & Young Economic and Fiscal Impact of the Michigan Film Tax Credit:
Raleigh Michigan Studios complex in Pontiac Michigan to commence movie productions this spring in 630,000 square foot project. The $80 million movie studio will anchor and launch the Michigan film industry as a homegrown and sustainable production center. CEO Linden Nelson stated nine sound stages will be created for film and television production employing up to 3,600 film crew members and support staff. Journalists and guests were given a tour of the former GM transformed site. Read the Free Press article.
Worldwide states, countries and jurisdictions everywhere are increasing their film tax incentives, credits and rebate programs aimed at luring film production companies to their areas. They all realize that film production has an economic activity multiplier effect and actively work to draw film producers and directors to make their movies in their towns, villages, cities, provinces and states. Governments understand the financial boost to their tourism efforts, greatly needed inward economic expenditure and the increased local creative energy and opportunities delivered to those creating intellectual property – for America a major U.S. export commodity. Support the Michigan Film Incentive Program. Contact your representatives.
Michigan Film Office Director Carrie Jones believes it’s an “incredibly exciting time for Michigan.” Jones took over the position earlier this summer and hopes to “carry on the trajectory” her predecessor, Janet Lockwood, set for Michigan’s film industry.
MFO Director Carrie Jones
In 2007, when the state had what Jones calls a “baby incentive,” three films shot in Michigan, spending $2 million. The current incentives passed in April 2008, and that year 35 film productions spent $135 million. Productions spent $223 million in 2009, and the film office estimates productions this year will spend more than $300 million, Jones said.
Read the entire MLive – Business Review West article
Thousands of jobs are being created by the Michigan Film Incentives with 4,000 crew and 4,000 acting jobs for ’09 alone.
Get your investors and film financiers qualified Michigan film budgets from a veteran major studio and indie movie producer.
Michigan Film Production is benefitting from the Michigan Film Tax Incentives with the increase of post production houses in the state. Editorial, VFX, CGI are lucrative and creative areas for the rapidly expanding film industry in Michigan. “Alice in Wonderland” and “Piranha 3D” are just two films enabling Michigan filmmakers with their inbound business, thanks to Grace and Wild Studios and With A Twist.
Read the Detroit Free Press article
Detroit, Michigan doubles for Paris, Russia, Switzerland, Baltimore and Washington D.C. in Richard Gere, Topher Grace movie “The Double”, currently shooting in Detroit through August
Read the Free Press Article
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Film Budgets by a veteran line producer consulting on your movie.
[From WKZO News]
Ben Stiller will film in Michigan
GRAND RAPIDS — Director, writer, and actor Ben Stiller will produce “30 Minutes or Less” which is set to start in July and is expected to last through October. The West Michigan Film Office says this will be the biggest movie project shot in the area not just since Michigan’s tax incentives to attract movie production went into place, but the biggest ever. Production is expected to last until October.
Producers won’t say exactly how much they will spend, only that will be at least ten-million dollars. Producers have also booked five-thousand hotel rooms. The movie is rumored to feature actors Aziz Ansari, Danny McBride, Michael Pena, and Nick Swardson.
Cannes Film Festival and Film Budgets
Cannes Film Festival approaches and the current update is that more than ever sales agents are asking for lower film budgets to match the expectations of the market. Europe remains wrestling with financial troubles and the film business is certainly affected. Expectations are for lower foreign sales and therefore your business plan and movie budget must be adjusted to reflect that reality.
The film budget is the core element of a sound business plan for film financiers, investors, banks, and foreign sales agents. Is yours ready for the Cannes film festival and market. Is it reliable and current? These are key considerations when preparing your film and television project. Filmbudget.com is the international leader in worldwide film and television budgets and schedules. Quality movie budgets and schedules matter.
A Line Producer creates the film budget based on years of experience in the field. Those engaged in film finance and movie investing demand quality, accurate budgets by a seasoned veteran – so should you. Get a quality movie budget from a veteran producer with 25 years experience.
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Film credits help hotels, survey says
Bookings meant $5M in “08,’09
By Daniel Duggan
The hospitality industry is stressing the importance of film business to its bottom line as talks in Lansing weigh a cut in the state’s film tax credit.
Figures released to Crain’s indicate almost 50,000 hotel rooms booked in metro Detroit by the film industry in 2008 and 2009. It resulted in nearly $5 million in revenue and roughly another $5 million in food and beverage spending.
“I think the numbers we saw would have been even better without the negative conversations about film credits,” Baum said, referring to talks in the Legislature of cutting the tax incentive.
By DONNA PAUL
Published: September 8, 2009
DETROIT — In the midst of a recession that has been particularly brutal in Michigan, a number of construction projects are on the verge of getting under way in a most unlikely business: the film industry.
The recent surge of interest was set in motion in April 2008, when Gov. Jennifer M. Granholm signed a 14-bill package into law, which among other things provided a 40 percent tax credit or cash rebate for studios on their business tax returns in Michigan. An additional 2 percent rebate is available for films produced in 103 communities.
There is also a 25 percent infrastructure credit, which is applied against expenditures on construction of a studio and its contents, said Janet Lockwood, director of the Michigan film office.
Read the New York Times article