While Illinois positively glowed with an estimated $90 million from Hollywood features and TV shows last year, 2006 could be a lackluster year, dimmed by new state competitors for film’s economic benefits.
Case in point: Illinois recently lost out on a significant Disney production that decided to shoot in Boston where a new aggressive package of incentives just passed.
Illinois has been one of 12 states (ranking 12th) that offered production tax incentives since 2004 and found the bill certainly boosted business. After a disastrous 2003 during which revenues from features/TV skidded to an all-time low of $25 million, the incentive helped raise the 2004’s revenues to $78 million.
But since late summer, Illinois hosted only one project, “Prison Break,” and a few days of Clint Eastwood’s “Flag of Our Fathers.” “That’s crucial to note because it shows a sudden and ominous downward trend,” noted Wayne Kubacki of Essanay and a first VP of the IPA.
