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Amid Louisiana film downturn, 'Deepwater Horizon' sets new mark for state subsidies

Source: theadvocate.com/new_orleans/news/politics/article_aac54cee-869a-11e6-9a4e-9f8be0194fba.html - Sep 30, 2016

The movie “Deepwater Horizon,” which opens today in theaters across America, is a rare example of a locally shot film that actually tells a story set in Louisiana.

It's gotten kudos for its meticulous rendering of the events leading up to the 2010 explosion that took the lives of 11 men on a BP oil rig 50 miles off the coast, setting off the worst environmental disaster in U.S. history.

But it is also the most expensive film ever made in the state, at least from taxpayers’ perspective. Under the state’s generous film-subsidy program, Louisiana issued tax credits totaling almost $38 million to Lionsgate, the producer.

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Category: General Business