HOLLYWOOD — William Baldwin has been tapped president of production for New Jersey-based CSC Communications/Cargo Films.
The CEO of CSC/Cargo, Thomas Colitsas, is an architect of the New Jersey Film Production Assistance Program, which was signed into law last month.
The program allows the state’s economic development association to offer loans of up to $1.5 million to production companies that agree to shoot their films in New Jersey. Qualifying productions must spend 50% of their budget and film 70% of their shooting schedule within the state. The remainder of the production must shoot within the U.S.
As a former president of the Creative Coalition, Baldwin worked on federal and state legislation to prevent runaway production.
In addition, CSC/Cargo is working with Comerica to parlay the shingle’s existing equity fund into a larger financing mechanism that would incorporate bank financing and New Jersey loan guarantees. CSC/Cargo hopes to produce eight to 10 pics over the next 18 months, all budgeted between $4 million and $8 million.