February 16, 2012
(Denver) – A high-concept bill with bipartisan top billing to create jobs in Colorado’s film industry premiered today on-location in the House Economic and Business Development Committee. The bill was put in the can on a 9-3 vote and shipped to the finance committee for final edits.
Since job creation is the leitmotif of the 2012 legislative session, House Minority Leader Rep. Mark Ferrandino (D-Denver) buddied up with GOP Rep. Tom Massey (R-Poncha Springs) to bring this bill that would incentivize the film industry to make more movies in Colorado by increasing Colorado’s film incentive from 10 to 20 percent.
The bill also creates a loan guarantee program where Colorado will take an up-front 5 percent facility fee, paid by the production company, in exchange for the guarantee, and then a bank, not the state, will provide the loan.
In a bravura performance, Rep. Ferrandino said, “I am steadfast in my support of the arts and, with the help of bills like the one I’m sponsoring, I am confident Colorado’s film industry will continue to grow. Our number one focus in the state legislature is to create and retain jobs, and film-making in Colorado offers a great opportunity to help boost our economy.”