Our first formal roundtable discussion was a great discuss. I certainly enjoyed it but I'm basing that on what participants told me. We had 27 people (yes, I know I said 18 max...I just can't say no) ranging from management consulting and finance to large media companes and media startups to proessional services...all with a media background. The very lively discussion and debate quickly went from the connected TV to how marketing and media can manage and monetize a full, three screens strategy. Within the next few weeks we will send out a short report that outlines some of the key insights drawn from the discussion.
Given the enthusiasm, we will probably be adding regular breakfast roundtable discussions to our list of program format, with evening panel discussions and networking events being the other regular programs.
Next, we are having a public policy roundtable on February 11th in Hartford, CT (see invitation and RSVP link here). This is an imporatnt opportunity to discuss now only how the right public policy can create more jobs and business in Connecticut's digital media industry, but how digital media and broadband can benefit the state beyond the industry itself. Please do register or let me know if you can make the event.
Finally, we will be having another evening networking event soon. We are trying to schedule it for the last week of February or first week of March. This is all about dinner and networking through we may screen a short film from one of our production studio or director members. Stay tuned.
My message is: Action is NEEDED: Contact your Legislator, by email, mail and phone. Let them know that you do not want the Film Tax Credit Eliminated-This will save jobs and increase tax revenue. This cut will be detrimental to the growth we are experiencing and will have consequences which will greatly reduce tax revenue & jobs in the State of Connecticut.
Brief Summary: I got a chance to listen to a round table at the CT State Capitol today, Ephraim Cohen was the moderator (great job Ephraim). The discussion was about the significant strides in the various aspect of the film and digital media in the State. One person stated that there is a 600 million dollar backlog of film business in the state (direct expenditures) and that is great news. Many topics were discussed about this being an Industry that grew in 2008.
Pat Sheehan, noted that we were not addressing a critical issue on the table(he described it as the 800lb gorilla I think?). His point, none of this growth or planning, none of the momentum we are experiencing will matter if the tax credit is eliminated?
Specifically, in the CT STATE LEGISLATOR is looking to eliminate the FILM tax credit. The CT STATE BUDGET CUTS are looking to save 90 million dollars while potentially stifling a business that will clearly be over a Billion dollars. This budget cut could have a disastrous effect on the growth of the film and digital media industry in the State of Connecticut. Many companies have moved productions, production work and entire companies because of this credit. A lot of deals are on hold, until this issue is resolved one way or the other. The incremental revenue (from the tax credits) saved would pale in comparison. An Ernst & Young study showed that :
“The study, researched since September by Ernst & Young and released Friday by the Governor’s Office and the state Film Office, reports that for every $1 the state spends on film, it gets $1.50 back.”
A quick google of direct, indirect impact & film industry brought up these analytical studies on the positive effect of credits & film. E&Y study (article) is the 1st link.
http://www.employmentspectator.com/2009/01/ernst-young-study-says-film-industry-creates-job-revenue/
http://www.taxadmin.org/fta/meet/08rev_est/papers/merkowitz_paper2.pdf
http://mooreschool.sc.edu/export/sites/default/moore/research/presentstudy/FilmIndustry/FilmEconomicImpact.pdf
Thanks and be well, Chuck