HAWAII PRODUCTION TAX INCENTIVE BILLS DOWN TO THE WIRE!

HAWAII PRODUCTION TAX INCENTIVE BILLS DOWN TO THE WIRE!

 

RELATIVITY MEDIA AND SHANGRI-LA INDUSTRIES WOULD BUILD STATE OF THE ART “GREEN” PRODUCTION FACILITIES ON OAHU AND MAUI


 

 

 

 

 

Potential to create 10,000 jobs and generate more than $5 billion annually

 

 

 

The bill has passed several committees in both the House & Senate of the Hawaii State Legislature.  It’s now before the Conference Committee, who is charged with conforming both versions of the bill for a final presentation to the full voting body of the legislature. Supporters believe the bill is groundbreaking for Hawaii growing the economy exponentially. They say it would create  a new industry, eradicate deficit and bring billions of economic activity to Hawaii…Supporters also project the bulls would create more than 10,000 local jobs with the potential for more…


 

 

 

 

 

 

 

 

In partnership with Shangri-La Industries, Relativity Media would support the building of the most environmentally-friendly “green” stages ever built in the world. It is also projected to create a major burst in tourism which has been negatively affected by the world economy and the tsunami in Japan.

 

After several months of working with members of the Hawaii state legislature, various Hawaii state governmental agencies (including the Department of Business and Economic Development and Tourism and the Department of Taxation) and top film tax incentive and job training consultants, Relativity Media proposed a groundbreaking film tax incentive program for Hawaii that will create a new industry projected to generate economic activity of more than $5 billion annually, more than 10,000 new high-wage jobs and a state-of-the-art, green film production facilities budgeted at several hundred million dollars…

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Supporters believe with Hawaii’s natural beauty, a well-trained local film crew and filming friendly weather year round, “Hawaii is poised to experience significant and sustainable growth in the amount of film/tv-related production, infrastructure, job/career opportunities and economic activity, if it improves its film tax incentive program….

 

Currently, most films come to Hawaii for its natural beauty, unique exteriors and film-friendly weather but supporters claim it also is among the highest film union labor rates in the country, high cost to travel crew and ship equipment, and limited local infrastructure.  If Hawaii is to improve its film tax incentive program, based on the proposed amendments it would mitigate these factors and attract both major Hollywood and independent film/television productions, which currently do not film in Hawaii. This would create a lasting surge of film production and related economic activity, supporters say…

 

 

 

 

 

Since Hawaii has very limited production space it needs additional film stages to support the growth of its film industry. Relativity, with the support of Steve Bing’s Shangri-La Industries and JP Morgan, is prepared to build 180,000 square feet, state-of-the-art, first-class production facilities, on Oahu, Maui and potentially other neighbor islands with a budget of $300 million to $500 million with the capacity to house multiple film/television productions simultaneously. These facilities will be built “green” and to qualify as two of very few LEED Platinum Certified (the highest environmentally friendly rating awarded) buildings in Hawaii. The proposed amendment makes building these facilities financially viable and will drive economic development associated with major construction projects. It will also drastically increase the economic activity associated with film production generally as more production dollars will be spent in Hawaii…

 

 

 

Hawaii has a thriving group of local film makers, film production crew and businesses that benefit from the limited number of films currently shot in Hawaii. An improved film tax incentive program, coupled with a formal local film crew training program, would drive growth of this film community and further development of the local film industry. This would give more local residents the opportunity to work in the high-paying film-related jobs. Over time, a majority of the jobs on each film production, including department heads, would be filled by State residents as opposed to out-of-state workers. And the training program, as proposed, would not cost the state a penny, but rather generate a surplus…

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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