Tax incentives could be stepped up to support film production companies

© Chris Murray

Tax incentives could be increased in response to the coronavirus shutdown as film productions look for government help.

The impact of the pandemic has hit the film industry hard, and with productions on standby and people working from home, the costs have been mounting. This has also had a big impact on the events industry with film festivals being cancelled around the world - and suppliers also being affected from caterers to logistics companies.

With the US economy reporting record jobless figures due to the shutdown, the industry will need significant support to get back into action - with states playing a crucial role in helping them recover.

In April, the California Film Commission confirmed it would be resuming Film and TV production tax credits in Version 3.0 of its program as the US reopens, and other states will be announcing measures to provide support.

Countries around the world are also looking to step up economic incentives. Spain announced this week an increase in their tax incentives for film productions to boost the local economy. And there will be a race to get productions back on track as they play a crucial role in getting industries to resume, employing millions of workers, both freelance and in full-time positions.

What do you think should be done to help film productions? Share your opinion with us: @filminetwork