Film Industry News
Louisiana movie tax credit provider FBT Film announces exclusive agency agreement with Film Finances Inc.
Date / Location: March 17, 2010 / New Orleans, Louisiana
Film Finances Inc., the world’s largest completion bond underwriters for films, announces an exclusive agency relationship with FBT Film for Louisiana movie financing. The new relationship will make it easier than ever for out of state movie and film producers to maximize their “Louisiana spend” with tax incentives as well as film financing and insurance.
“This is a huge win for film producers and for Louisiana,” says Leonard Alsfeld, President of FBT Film. “Now you have one of the world’s top financing and bond completion companies paired with local insurance, banking and film tax credits to ensure producers are getting the most aggressive financial package they can find anywhere in the US.”
Louisiana was among the early states to aggressively pursue the film industry with lucrative tax and labor incentives. In recent years many other states have adopted similar program but with mixed results. And recently several states have had to unexpectedly freeze their programs due to budget shortfalls. In Louisiana however the movie industry continues to thrive.
Film Finances Inc. was founded in 1950 and has grown to become one of the largest companies in the film financing and production services industries. Their track record includes providing completion guarantees to many of the leading banks, film studios and distributors serving the entertainment industry. This includes almost 6,000 feature movies, television shows, made for TV movies and documentaries.
FBT Film & Entertainment purchases Louisiana film tax production and labor credits from out of state production companies who film their movies and TV shows in Louisiana. They then take these tax credits and make them available for the public to purchase where they can help offset any Louisiana tax liability. FBT Film also provides insurance and banking via their relationship with First Insurance Agency and First Bank and Trust. All 3 companies are subsidiaries of First Trust Corporation.
FBT Film and Film is located in downtown New Orleans. For more information call 504-584-5884 or visit their website www.FBTFilm.com.