Business Incentives: Attracting Arts and Entertainment ... · NCSL ~ New Orleans ~ July 22,2008 ......
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Gaye Hamilton Cultural Economy Initiative Office of Lt. Governor Mitch Landrieu Louisiana Department of Culture, Recreation and Tourism Business Incentives: Attracting Arts and Entertainment Industries NCSL ~ New Orleans ~ July 22,2008
Transcript of Business Incentives: Attracting Arts and Entertainment ... · NCSL ~ New Orleans ~ July 22,2008 ......
Gaye HamiltonCultural Economy Initiative
Office of Lt. Governor Mitch LandrieuLouisiana Department of Culture, Recreation and Tourism
Business Incentives:
Attracting Arts and Entertainment Industries
NCSL ~ New Orleans ~ July 22,2008
Cultural Economy Initiative Overview
Tax Incentive Research
Cultural Economy Legislative Initiative
The Cultural EconomyIf culture – abundant,
renewable and clean – is Louisiana’s metaphorical
new oil, then it requires the equivalent of the
skilled workers, refineries, pipelines, and business
entities needed to bring it to the global
marketplace.”
LOUISIANACULTURALECONOMY
8.25.05
Artwork: Terrance Osborne, “The New South”
Overview
Support SystemBusiness Services • Education • Government • Networks
Distribution and Markets
Media
PerformanceVenue
Festivals
Wholesalers
Retailers
Libraries and Museums
ProductionEntertainment
Film & Video ProductionMusic production Performing Arts
Computer GamesRadio and TV
LiterarySpoken Word
Books • NewspapersPeriodicals
Visual ArtsArtisans and Crafts
Foundries
Culinary ArtsFood Processing
Restaurants • Caterers
DesignGraphic Design
Advertising • Printing
PreservationConstruction Trades
Millwork Ornamental mfg.
Origination
Writers
PaintersChefs
SculptorsPhotographers
ChoreographersArtisans
Interior DesignersLandscape Architects
Graphic DesignersArchitects
ComposersSongwritersMusicians
Louisiana
National
International
OverviewLOUISIANACULTURALECONOMY
1. Support Origination & Sustainability of LA Culture
2. Enhance Production Capacity for LA Cultural Products
3. Expand Distribution & Markets for LA Cultural Products
4. Cultural Economy Support System
LOUISIANACULTURALECONOMY
Original Goals and Strategies
Overview
Some New Questions:Where are we now?What are new opportunities and barriers?What has been done to rebuild cultural economy?What are highest priority actions for growing the cultural economy?
OverviewLOUISIANACULTURALECONOMY
Artwork: "Requiem" by Ana Juan
Mt. Auburn AssociatesUtilizing Tax Incentives to Cultivate Cultural Industries
and Spur Arts Related Development
Tax Incentive ResearchLOUISIANACULTURALECONOMY
Tax Policy Framework
Artist-based Tax Incentives
Industry-based Tax Incentives
Place-based Tax Incentives
Louisiana ContextMotion Picture Tax CreditsSound Recording Investor Tax CreditsDigital Interactive Media Producer Tax CreditsExemption of Consigned Arts from Ad Valorem TaxesHistoric Tax CreditsR&D Tax CreditsAngel Investor Tax CreditsQuality Jobs Program
LOUISIANACULTURALECONOMY
Photo: Thomas Hawk
Tax Incentive Research
The Irish Artists’ Tax ExemptionProvince of Quebec Artists ExemptionIncome AveragingHawaii High Tech Business Investment Tax CreditsRhode Island Tax Free Arts DistrictsMaryland Arts & Entertainment DistrictsPaducah Kentucky Artist Relocation ProgramMassachusetts ArtsLink Rehabilitation PolicyNew Mexico Arts and Cultural Pilot DistrictsMaine Tax Increment Financing Districts
LOUISIANACULTURALECONOMY
National and International Context
Tax Incentive Research
Legislative Tax InitiativeAimed at supporting individual artists
and cultural industries
Status of the Artist
Cultural Industries
Community Cultural Development
LOUISIANACULTURALECONOMY
Tax Incentive Research
Commitment to Cultural IndustriesAttract creative talent back
Enable earning power from artAffordable live/work space
Financial support for producers of cultural productsAttract creative businessesRevitalize distressed communitiesCreate new businesses and jobs through growth investmentBecome a national center for entertainment industries
LOUISIANACULTURALECONOMY
Legislative Initiative
Status of the Artist
To improve the financial climate for artistsIncome derived from artistic work excluded from state income tax
LOUISIANACULTURALECONOMY
Artist Incentive Bill (proposed)
Legislative Initiative
Authorize culinary arts and food science investor tax credits
To attract new and expansion projects in food manufacturing and culinary education and training
Includes credits for fees for university and incubators consultation to grow small businesses
LOUISIANACULTURALECONOMY
Cultural Industry PromotionFood and Culinary Arts Bill (proposed)
Legislative Initiative
Local communities designate district boundaries
Historic property state tax credits
Increase cap on residential credits from $1 million to $10 million
Sales of original works of art are exempt from state and local sales tax
LOUISIANACULTURALECONOMY
Community Cultural DevelopmentCultural Products Districts Bill (passed)
Legislative Initiative
WCEF Passport Events, October 2008
WCEF World Bazaar, Oct. 30, 2008
Prospect 1, November 1, 2008
LOUISIANACULTURALECONOMY
Expand Distribution and Markets for LA Cultural Products
Lagniappe
Gaye Hamilton225-342-8161, [email protected]
Cultural Economy InitiativeLouisiana Department of Culture, Recreation and Tourism
Louisiana Cultural Economy Information: http://www.crt.state.la.us/CulturalEconomy
Utilizing Tax Incentives Report:http://www.crt.state.la.us/CulturalEconomy/2007Conference/TaxPolicy.PDF
Louisiana Cultural Districts Legislation:http://www.crt.state.la.us/culturaldistricts/
