Honolulu might never be the epicenter for film production in the United States, but new legislation may set the groundwork for the Hawaiian city to turn into a miniature Hollywood. The bill in question, currently snaking its way through the state legislature, would raise production tax credits on all television and film productions from twenty to forty percent on all the islands but Oahu, where the rates would be upticked from fifteen to thirty-five percent. If the lucrative incentives package passes, it would put the state on par with Louisiana and New Mexico as the most generous in the Union.
Widely considered almost a slam dunk, Governor Neil Abercrombie has already publically supported the measure, claiming it should bring billions in yearly revenue. That might sound like a ludicrous figure, but Relatively Media, the production company that initially trumpeted the legislation, claims it plans to film more than thirty television shows and ten movies a year if the bill passes.
According to The Hollywood Reporter, former President Bill Clinton has also been a vocal advocate. He went so far as to write a personal letter to the Hawaiian state legislature, claiming he estimates the increased incentives could turn the industry into an eight hundred million dollar enterprise within the first year.
In addition to simply filming on the islands, Relatively also plans to build two gigantic production studios at a cost of nearly four hundred million dollars, which would bring in more than one thousand new construction jobs. Of course, all of this is mute if the measure fails to pass, but in a slumping economy, it's hard to imagine Hawaii turning down near guaranteed revenue.
