Local celebs and political leaders are among the guests expected at the IPA Victory Party June 13 at Rockit Bar and Grill.
The party celebrates IPA’s influential role in the Illinois’ new 20% tax credit on wages and supplies that should appreciably boost the economic impact of film expenditures in Illinois.
It’s also an excellent opportunity for new members to join the powerful three-year organization and keep the momentum going.
Approximately $10,000 worth dollars worth of valuable gifts and post/audio services were generously donated for prize drawings and gift bags for new members in appreciation of their joining IPA. (See below for a list of sponsors, to date.)
Party chairman John Digles promises a minimum amount of self-congratulatory speechifying, with the accent on meeting members and toasting a new era in statewide production.
Benefits of the top-ranked Production Services Tax Credit Act
The Illinois Film Production Services Tax Credit Act is considered one of the best among the many states vying for Los Angeles movie and TV show business.
Incentives offered by many states have already impacted L.A.’s solidly entrenched TV pilot business. California’s share of pilot season production fell 21% this year, decreasing from 105 last year to 81 projects this year.
“You have increases in New York and other areas that never saw or rarely saw pilots before, and they happen to be in areas that have incentives as well,” FilmL.A. President Steve MacDonald told The Hollywood Reporter.
The incentives are also expected to encourage more commercial production, currently a weak spot. Story was the first local commercial production house to utilize the tax credit on national spots it produced for Sears.
IPA’s primary mission has been to maximize the industry’s economic potential. It has tangibly done so by vigorously lobbying for a highly competitive incentive bill over the past four years.
Lobbying fees come exclusively from membership dues; $1,000 for a company and $250 for indivuals.
For details about the new tax credit and how it works for features, TV shows and commercials, see www.illinoisproduction.org.
Rockit Bar & Grill is located at 22 W. Hubbard St. (historically appropriate as it once was home to several film production companie), 6-8 p.m. Food and drink compliments of IPA and Rockit. Space is limited.
Prize and gift bag contributors so far: Optimus, the propshopchicago, the Seneca Hotel, Signal Hill Sound, Cutters, Chicago Film Office, BAM Studios, IFP/Chicago, ARU, Chestnut Grill, Post Effects, the Grotto Restaurant, Earth Share/FCB, Facets Multimedia, Essanay, Peter Calandra, Gene Siskel Film Center, Southport Records, Chicago Magazine, Paul Oddo/Local 476, Act One, Southport Records, Schumacher Camera, Kodak, Fletcher Chicago, I-Cubed, and ReelChicago. Thanks to all!