There has never been a more exciting time to produce audio-visual content in Puerto Rico. With the devastation of Hurricanes María and Irma a distant-yet-sobering memory there is once again great anticipation and vitality in the media-centric industries of the island. New business ventures, investment opportunities, recreational hotspots like bars, restaurants, real estate and luxury hotel developments in not just the capitol San Juan, but across the idyllic west of Rincón and tropical eastern islets of Vieques and Culebra are springing up faster than spring daisies in May.
The film industry in Puerto Rico is going through a major renaissance period - rumors of Netflix bringing a host of intellectual property and confirmed commercial developments including a movie production city mega-development with exclusive hotel attachments bode incredibly well for the future. The Puerto Rico Film Commission extended its commitment to the 40% starting rate of film tax credits for qualifying productions. This factor alone provides huge incentive to produce content in Puerto Rico.
So what makes a qualifying production?
As with many things in life it boils down to money. If the local spend is $100k or more (or $50k+ for short films), then the production can qualify. This kind of rate is met quickly when looking at a week of shooting, or bundling production of two commercials together, for instance. There is no cap on non-resident payments (with 20% earmarked) and a $50m/year cap on local expenditure.
One of the first questions we usually encounter when talking with producers wishing to bring major projects to the island is “do we have quality crew?” and to this the answer is clear- at any one time Puerto Rico has equivalent of four major Hollywood crews on the island- the majority of whom are time-served IATSE union members. Equipment standards and film production facilities have improved ten-fold over the last half-decade and of course, the natural assets of some of the worlds’ most enticing and exotic locations doesn’t harm either.
In the next five years Puerto Rico will not only be Americas favorite paradise getaway spot, but also the premier option for savvy film producers both from US soil and world-wide.
CereProds is carefully structured to allow producers to access cutting edge equipment, top quality crews, breathtaking locations and the economic benefits of tax credits and off-mainland production logistics. We operate both as a production services company and production house, and can help navigate your project from concept to delivery.
Where do you plan on shooting your next opus?
Whatever your production needs, at whatever scale, as always, contact CereProds