Hollywood facility bets on the film biz in Central Europe
Raleigh Studios Budapest also has administrative services to tap local incentives and tax rebates. Hungary offers a tax credit that covers up to 25% of production costs. The incentive, along with the region’s lower-salaried film workers, offers a lure to U.S. producers. The Budapest venture is a partnership between Raleigh and local shingle Origo Film Group. Origo is the Euro studio’s corporate owner. Partnering with the Budapest entity, Burbank, Calif.,-based post house FotoKem will manage and operate a post-production facility on site, including a film lab, digital post and vfx capabilities. Allan Tudzin, a 29-year Fotokem vet,has already moved to Budapest to manage the operation. Steve Auer, who ran Hollywood’s Sunset Gower Studios for 12 years, has been living in Budapest for a year and will be Raleigh’s topper there. Despite the challenges the industry faces in today’s economic environment, Raleigh prexy Michael Moore takes a long view of the company’s investment in Central Europe. “Productions will always be going to Europe,” he said. “Even if didn’t make economic sense, they’d go there for creative reasons.” On Thursday, Raleigh Studios in Hollywood will hold a Hungarian-themed gala to mark the opening of its Budapest outpost. Raleigh Budapest’s official opening will be April 1, but occupancy will begin by the end of the month, per Moore.