American Film Market 2010
The southeastern region of Apulia the latest player to emerge in the tax break and subsidy game. It now has a $2 million film fund that can bridge a $200,000 gap in financing for feature films shooting in the region, and will in some cases offer up to $130,000 toward local accommodations.
This is on top of standard Italian tax credits that give international productions a 25% deduction up to a maximum of $7 million, payable through an Italian executive producer.
Filmmaking in Southern Italy should be further boosted by incentives in Apulia’s neighbor, Campania. The region, home of Naples, Pompeii and the Amalfi Coast, has provided gap financing totaling about $8 million between 2004 and 2008.
A further $14 million in EU money for the region will soon be on tap for film and TV producers over a three-year period.
Meanwhile, in the north, production in the Piedmont region is booming thanks to the joint deal between the local film commission and Los Angeles-based Endgame Entertainment that has provided a $32 million fund to help mid-range projects that have 75% of their budgets in place. The fund will provide up to the remaining 25%, with a $6 million cap and the proviso that 20% of the budget be spent locally.
The central Lazio region, with the capital Rome, offers it own incentives, including a fund for early VAT recovery to foreign producers and donations of up to €600,000 ($835,00) for productions that spend 50% or more of their budgets in the region.
Rome’s big Cinecitta’ complex remains the Italy’s top facility.
Italian Film Commission
Apulia Film Commission
Phone: + 39 080 975 29 00
Campania Film Commission
Phone: +39 081 509 1533
Turin and Piedmont Film Commission
Phone: +39 011 2379201