Caspian, Wyo. – The State Legislative Committee has agreed to draft a draft tax reform for the film industry, seeking to expand Wyoming’s economy and build a youth and creative industry.
The Joint Travel, Recreation, Wildlife and Cultural Resources Committee’s proposal calls for the use of tax revenues only to budget up to $ 3 million every two years.
Depending on the size and scope of the projects, it includes two incentives for the industry.
The article continues below …
For larger products, there is an incentive based on a 15% cash discount for those who qualify at government expense. Additional discounts (up to 30%) will be added to employ Wyomingites as part of the project’s workforce 60% or more and to do post-production work in the state.
Small products can get a 15% discount by hiring Wyoming staff and showing the state in the themes or story line.
The state’s previous incentive program After the end of 2018, Thursday’s meeting of film industry experts and local tourism officials was briefly completed.
U.S. graduate and filmmaker Sean Patrick Higgins told the committee. In Wyoming in 2020, there were 167 requests for film production, most of which went to other states in the region.
Higgins said that based on that potential business, Wyoming could add 1,200 new jobs over the next five years.
Diane Shober, executive director of the Wyoming Tourism Office, said the state invested $ 2.1 million in the 2007-2018 tax incentive program, and the film industry spent $ 18 million in Wyoming.
Many have testified that the lack of a government incentive program has not started for the film industry executives.
“The discussion always starts with ‘What is Wyoming Incentive?’ And unfortunately, that usually ends the conversation. Shawn Parker, a member of the Government Tourism Board and Executive Director of Sher Ridan Travel and Tourism, said.
Parker Bureau recently hosted a series of budget-horror films, as well as a Netflix documentary, which featured $ 100,000 in a series of Mint Bar in three days. He has also hosted advertising campaigns for Rolly Royce and Delta Airlines.
Even with these small projects, the return is very real, which means nothing about the amazing market value we see when these projects are created.
But “for each of the winners,” Parker said, “we have lost many, many other projects that could have a significant economic impact on the state.”
Parker’s frustrating discussions with the former assistant director on “small projects” such as Forrest Gump and Casino Royale were frustrated by the government’s lack of incentive programs.
Of course we fix it here [is] Longmire was captured in New Mexico.
Representative Mark Jennings (R-Sheridan) stated his support for Hollywood in small businesses, and voted unanimously against certain initiatives, saying certain areas and manpower could not benefit.
Legislative staffer John Brody advised the committee that “the public interest must be more than a matter of chance” and “not a subdivision of interests for the private industry” to be considered constitutional.
Brody added that he believed that his overall economic interests and faith in Wyoming would satisfy those conditions.
Visit Casper, for its part, says it is ready to facilitate products by managing licensing processes and contributing to the industry’s database of qualified professionals and locally sourced materials.