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Tax incentives make film financing in LA a tricky business

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Australian actor Chris Hemsworth (R) poses with fans in Playa de Santiago, on the Spanish Canary island of La Gomera on November 23, 2013, during the shooting of the film 'In the Heart of the Sea' by US director Ron Howard. With its outrigger canoes and sailing whaler anchored off the coast, a Hollywood blockbuster started shooting more than three months ago in the small port of Playa de Santiago, where the few bars and restaurants are now always full thanks to the production. A godsend, welcomed in this region of Spain battered by the crisis and an unemployment rate reaching 35.1%.

For a few years now, film production has left Los Angeles and gone to other states and abroad.

Tax incentives have led to the creation of a whole new type of Hollywood financier who helps filmmakers figure out how to navigate state tax codes and take advantage of them. It's a trend Richard Verrier wrote about for the LA Times. Verrier joins the show to explain.

Then LA film czar Tom Sherak joins the show to talk about how he's working to keep film production local. 
 


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