Going forward the Louisiana-based facility will only be available for rental of and other production services to third-party producers.
Parent company Nu Image/Millennium Films made the announcement on Wednesday, saying it had not shot any of its own films at the 70,000 sq ft facility since Olympus Has Fallen in 2013 primarily due to tax credit rules and regulations in the state.
Nu Image/Millennium said the regulations “severely penalize producers who own their own production facilities in the State and which favor small budget films over larger budget theatrical films which Nu Image/Millennium typically produces.”
It added that other recent changes to the Louisiana tax incentives had also led to “considerable uncertainty as to the future of film production in Louisiana.”
Nu Image/Millennium said the film crew union IATSE recently began demanding what it called “very high residuals” from the company even for films produced entirely within Louisiana due to “the almost inevitable need to hire at least some West Coast crew members on films shot in Louisiana.”
Millennium Studios features two sound stages, production offices, a construction mill and SFX mill and hosted shoots on Millennium’s Drive Angry, Iceman, Trespass, The Expendables and Olympus Has Fallen, among others.