You need to read these three articles from The Times-Picayune:
Movie tax credits could pay for condos, golf courses
FBI raids LIFT offices as part of tax credit probe
FBI raids offices as tax probes widens
The Daily Advertiser has a good editorial too:
Tighten rules for issuing tax credits
LIFT has been responsible for a lot of production in the state, and it's currently building the Film Factory, a $185 million studio and vocational school, in New Orleans. The company's Shreveport projects include "Mr. Brooks," "Factory Girl" and "Premonition."
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3 comments:
Why aren't these articles published in the Times?
Did the mayors or the media director ask not to publish this as a NEWS story since they have followed the leadership of Mark Smith in deciding the direction to take, i.e. the Northwest Louisiana Film Alliance?
The information about Mark Smith might EXPLAIN A LOT! It might explain why he moved the State Film Office from Baton Rouge to New Orleans. It might explain why Shreveport got absolutely NOTHING from him while he was the state film officer. It might explain why he got the initial tax credit system in place that returned 15% of the ENTIRE budget of the film PLUS another 10% for overhead, not just 15% of what was spent in our state. During one of the Northwest Louisiana Film Alliance meetings, the intital tax credit system was discussed - example: a company produced a film that costs $40,000,000, but only spent $8,000,000 of it in Louisiana, received over $7,200,000 back from the state. Not a good business plan, but a plan that opens up doors for people with influence to sell!
Both mayors, the media director, and the Northwest Louisiana Film Alliance (that's really the Robinson Film Center for ADDITIONAL funding purposes!) may have some explaining to do for dumping the local film office so they could follow the lead of someone that could destroy the movie industry in Louisiana!
It's a very interesting set of events. I didn't even know LIFT was under investigation. I'll have to watch this one to see how it plays out.
We're running a story on the local industry's response to the investigation on Tuesday.
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