Reforming Israel's Film Incentives Program
DescriptionIsrael has missed out on business creation and jobs stemming from the expansion of the film and television industry around the globe. Despite Israel's vibrant emerging film and television industry, its existing incentives, based on the country's 2008 Law for the Encouragement of the Production of Films, have proven ineffective in attracting new projects.
Other countries have succeeded by providing lower costs, through tax benefits and production infrastructure along with operational support, while also marketing their landscape, utilities, tourism facilities and local film production services.
The Israeli government faces the challenge of developing a competitive financial offering that ensures continuity of the film industry's production cost environment over time. Countries like Ireland and the Czech Republic have lost global production share as incentives expired. And the lack of stable production incentive tax regimes in some U. S. states and other foreign countries creates an opportunity for Israel to provide a stable, predictable, secure film/television production environment.
To craft a formula for success, the Milken Institute convened a roundtable discussion of experts, including heads of production from studios and networks, producers, agents, senior legal counsel, and senior Israeli officials from the Ministries of Finance, Industry, Trade and Employment and Foreign Affairs. To read a summary of the roundtable, which took place as a video conference with participants in Santa Monica, Washington and Jerusalem, click here.