New film incentives in Colo. to become law

Filed under: Daily News,Economic Development,Tourism |

 

A measure to increase tax rebates an incentives for film production in Colorado will be signed into law.

 

The new law will increase the tax incentive the state gives production companies from 10 percent to 20 percent. The refund is given to filmmakers to help offset costs for in-state expenditures.

 

Colorado’s new incentives would be comparable to other states, but others, including Kansas and Oklahoma have, higher incentives.

 

Gov. John Hickenlooper plans to sign the bill Friday. Supporters say it will boost tourism and local economies.

 

The measure also aims to make it easier for film companies to get loans.

 

Hundreds of movies have been filmed in Colorado but the number has dwindled in the last 15 years because other states offer better incentives.