William Baldwin has beennamed president of production at the New Jersey-based production companyCSC/Cargo Films, one of the key players in the state's high-profile drive toprevent runaway productions by offering incentives to film-makers.
Since 2001 Baldwin has beena prominent supporter of the Garden State's campaign, which took a significantstep forward last month when Governor James E McGreevey passed the FilmProduction Assistance Act.
The law provides financialincentives to independent film-makers and loan guarantees through the state'sEconomic Development Authority for up to 30% of a film's budget, capped at$1.5m.
Comerica Bank will allocateofficers to determine project viability and will typically put up 30%-40% ofcosts, while the balance will come from private investors.
The incentive programme willfund a minimum of eight to 10 films in the upcoming year.
"It is not only filmindustry-related jobs that are affected. In addition to hair, makeup, wardrobe,electric and carpenters etc., ancillary industries and small businesses arestimulated as well," Baldwin said in a statement.
"Airlines, car rentals,sanitation, catering, hotels, restaurants, building suppliers and many morewill benefit from the increase of film and television production in the stateof New Jersey."
"Billy brings to the tableextensive knowledge of runaway production and entertainment industry expertisethat will help to create jobs for the state of New Jersey through film andtelevision production," Thomas Colitsas, chief executive officer and founder ofCSC/Cargo Films, added.
Colitsas, who has been oneof the major drivers behind the Film Production Assistance Act, said everydollar spent on production would return up to three times as much to the statetax base.
CSC/Cargo Films is due toannounce its first project shortly and is planning to open a West Coast officein Santa Monica, California.