In a time when our government is looking to spur economic development and create jobs, the Colorado State legislature in the 2012 session increased film incentives from 10% to 20% and will provide a state guarantee for a senior bank loan program for production companies that fit a certain criteria. This will create an amazing opportunity to turn a $4 million film budget into $25 million of spending! Bravo to Governor Hickenlooper, the State Legislature and Donald Zuckerman for a successful effort.
Not many people realize that Colorado was the first state to create a film commission back in the late 1800’s and over the years many well known movies were filmed here. Today however, this industry has dwindled and it has become almost impossible to compete with states like New Mexico, Utah, Louisiana and Michigan because their incentives are robust and generous.
Film production creates jobs, boosts tax revenues and benefits every area in our State and the passage of this legislation provides huge opportunities for Denver where so much of Colorado’s creative talent and film businesses are located. We are known to be a film friendly city, and we want to keep it that way.
In anticipation of the passage of this legislation, I have been working with city agencies and industry experts to begin to identify how Denver can accommodate increased film activity and provide additional incentive to capture a lion’s share of the productions that will begin to come back to Colorado. I want the industry to know that Denver is open for business. We want to deliver streamlined processes and excellent customer service and let this industry know that we are open and ready for business.
For more information on the legislation and bringing film back to Colorado, please visit www.filmcolorado.org.