Celebrity Business Analyst Explores Film Subsidies in the Caribbean

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Celebrity Business Analyst releases its views on the recent rise in film subsidies in the Caribbean. The analysis follows a June 21 Miami Herald report entitled “Caribbean becoming hotbed for film production.”

Celebrity Business Analyst offered its analysis today of the increase in film subsidies for locations in the Caribbean. A June 21 report in the Miami Herald indicated that the Dominican Republic is becoming increasingly attractive to film production companies. Celebrity Business Analyst takes a look at the reasons why certain countries in the Caribbean have begun to attract more production companies to the area.

Caribbean countries have played host to production companies many times in the past. The Dominican Republic has welcomed productions such as Jurassic Park and Miami Vice, both of which are popular enough to be seen often through satellite tv packages. In the 1970s, the island’s capital Santo Domingo served as a substitute in Godfather II for Havana, Cuba, which had been taken over by Fidel Castro.

The Dominican Republic is now vying for more business. The country appointed a national film commission last year and is now in the process of building a $70 million film studio. Opening this month in that studio is the world’s second-largest water tank, useful for filming underwater scenes. The country only started offering incentives in 2011, before which they played host to only four or five films per year. In 2012 however, they permitted 23 films to shoot there and receive incentives.

With other states and countries offering film subsidies to production companies, Caribbean countries have had to up the ante. “Celebrity Business Analyst has reported on film subsidies in the past,” says the site’s editor. “Whether subsidies are offered in the United States or other countries, they are a solid strategy for attracting production companies. Tourism is one of the Dominican Republic’s biggest factors affecting economic growth, and film subsidies are a good way to supplement that. The movie industry certainly promotes tourism to areas in which films are shot.”

Celebrity Business Analyst commented on the rise in film subsidies in the Caribbean. Tax credits and incentives have been effective in making countries like the Dominican Republic more attractive to film production companies.

About Celebrity Business Analyst:
CelebrityBusinessAnalyst.com is a website that takes an interest in the business side of Hollywood. Topics of discussion include movie star salaries and what it takes financially to make movies.

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