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The first half of 2023 has been a busy one for the Louisiana entertainment industry. Act 411 was passed by the Louisiana Legislature and has been signed by the Governor into law, extending the Motion Picture Production Tax Credit Program to 2031. By passing this law, Louisiana has reaffirmed its commitment to the film industry as well as our dedication to furthering our investments in education and workforce development. Louisiana Entertainment has been monitoring negotiations since the writers’ strike began in May, and we recognize the potential hardships that may be created for Louisiana crews and vendors now that the actors have followed suit. Our thoughts are with those that are impacted. We hope for a speedy resolution that is fair for all parties involved. We will continue in the meantime to promote Louisiana as the best location for motion picture production, confident that our state’s world-class film and TV workforce stands ready to rapidly ramp up production the moment the strike ends. There is no question that the entertainment industry has had a significant impact on Louisiana. The numbers from the previous fiscal year speak for themselves:
• $438 million in direct spending by incentive program participants.
• $847.6 million in new sales generated by incentive program participants through production activity in the state.
• Over $51.7 million in total state and local tax revenue generated.
• Over 10,000 jobs supported for Louisiana residents.
• $362.1 million generated in Louisiana household earnings.
• For every $1 of film credits certified, there is an additional $6.32 in sales activity.
Louisiana is also investing in the state’s intellectual infrastructure. The Entertainment Development Fund has awarded nearly $5 million for education and workforce training initiatives. This fund provides much-needed dollars for educational institutions and non-profits all over the state. We recently launched a new video highlighting the contributions and significance of the EDF. This video offers just a snapshot of the profound effect the Louisiana film industry has on our businesses, schools and residents statewide.
Demand is surging for skilled creatives and production professionals that work behind the scenes. In our state, entertainment jobs are more than just gigs – they are full-time careers for Louisiana residents. The Entertainment Development Fund provides critical support for vital programs that will work to meet the workforce needs of the future. “The funding from the Entertainment Development Fund has enabled us to create a hands-on laboratory where students can explore and experiment and get practical training skills in real-world jobs,” said Jason Jamerson, assistant professor of Virtual Production and Immersive Media at LSU. With the continued dedication of these organizations and our local community colleges and universities, we are all investing in the future, keeping our best and brightest close to home. “This will keep people in the state,” said Cory Parker, business agent for IATSE Local 478. “It will keep people from going to California, New York or Georgia. The return on this investment is huge.”
As always, if you have any questions or concerns, please reach out to me directly at 225.342.5555 or Chris.Stelly@la.gov.