The state of Texas is vying to introduce new tax breaks for filmmakers, thanks in part to the success of Taylor Sheridans yellowstone Series.
The western drama, starring Kevin Costner, was filmed in the small town of Venus, Texas, giving a major boost to the local economy.
However, many television shows and films set in Texas are not filmed there because the surrounding states offer more attractive tax incentives to producers.
In 2022, the entertainment industry pumped $1.5 billion (£1.22 billion) into the economies of New Mexico, Louisiana and Oklahoma, according to reports The Hollywood Reportermuch of which was spent on projects in Texas.
These states have similar natural environments to Texas, but with more attractive tax incentives.
New Mexico, for example, offers filmmakers recoverable tax credits of 25 to 35 percent on government spending up to US$110 million (£89.6 million).
If the new bill, introduced March 7 in the Texas Legislature, passes, movies/shows will be eligible for tax credits ranging from 30 to 42.5 percent on state spending with no cap.
Kevin Costner in Yellowstone (Paramount)
In February, Texas Lieutenant Governor Dan Patrick said, “My target is Taylor [Sheridan] to relocate its entire TV and film production to Texas. If we work together, I think we can do it.”
yellowstone has been embroiled in some controversy lately over reports that lead actor Costner is leaving the show over disagreements with Sheridan over filming schedules.
The actor’s attorney dismissed that claim, stating, “The idea that Kevin was only willing to work on the second half of season five for a week yellowstone is an absolute lie.”
Some reports have gone so far as to suggest so True detective Star Matthew McConaughey has been considered for “franchise renewal” should Costner leave the role.
Originally published Mar 27, 2023 at 11:42 am
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