The Centennial state hasn’t always been the first choice for filmmakers. That’s changed within the last few months.
Why?
Incentives are the answer. Last year, state lawmakers increased Colorado’s cash rebate from 10 to 20 percent and added a loan guarantee program for up to 20 percent of the productions cost.
Three feature films have signed on to shoot here, and Hollywood and the rest of the film industry are now taking a look at Colorado.
- “Dear Eleanor” produced by Leonardo Dicaprio will receive $500,000 in rebates and a $300,000 loan guarantee based on a projected $2.5 million in local spending.
- “Caribou Records” a Randall Miller film about Colorado’s legendary recording studio will receive $1.47 million in rebates and a $350,000 loan guarantee based on a projected $7.5 million in local spending.
- “The Frame” a spall-budget supernatural thriller by Jamin and Kiowa Winans will receive $76,000 rebate based on $380,000 in local spending.
The increase in incentives went into effect in July of 2012. Colorado’s Film Commissioner Donald Zuckerman says that’s helping make Colorado more competitive among the 40 states to offer tax incentives.
“It’s virtually impossible to get someone to come without an incentive. In the past five years, no one from out of state has come to Colorado to shoot with the exception of Lone Ranger which came last year for three weeks,” said Zuckerman.
The Colorado Film Commission started the fiscal year with $4 million allocated for incentives. Zuckerman says all the money is now tied up and the commission is turning away projects. Funding should be available again at the start of the next fiscal year.
Eagle-eyed movie goers will be able to see part of Colorado, and the work of the commission, this summer. Parts of Alamosa and Creede, Colorado will be part of the scenery for Disney’s The Lone Ranger.
http://youtu.be/q42DrlOczi0
The Lone Ranger will be in theaters in July.
