Israel hopes to increase its attractiveness as an international filming location thanks to a new 30% discount incentive for foreign productions.
A two-year incentive to film films and TV series in Israel will pay 16.6 million shekels ($4.9 million) to the ministries of culture and sports, economy and industry, foreign affairs, finance and rural tourism. Government ministries provide assistance to strengthen Israeli manufacturing companies working with Israeli international organizations.
The discount also includes animated films, where up to 10 percent of the budget will be refunded, as well as post-production, where up to 10 percent of the budget will be allocated.
“The Ministry of Finance is proud to participate in promoting the fund to encourage foreign production in Israel,” said Ram Belinkov, Director General of the Ministry of Finance. “We believe that the fund will lead to the flourishing of cooperation in the Israeli cultural and film industry and will lead to various investments and jobs in the economy.”
The Director General of the Ministry of Culture and Sports, Raz Frohlich, added: “The procedure to encourage foreign film and television production is an important innovation for the film and television industry. Carrying out the procedures and photography in Israel will enable the strengthening of the Israeli culture and film industry and the strengthening of the connection between Israeli culture and the State of Israel in the world. Workers in the Israeli cultural industry will receive an additional platform to act, develop and promote their activities. The act encouraging foreign manufacturing in Israel also puts us on the world map in this area.”
Said Dr. Ron Malka, Director General of the Ministry of Economy and Industry: “We hope that the program will promote foreign productions in Israel as an excellent opportunity to strengthen the Israeli culture and film industry. The Ministry of Economy, through the Investment Authority, will continue to provide the necessary stimuli and incentives to strengthen the Israeli economy.”
Source: Hollywood Reporter
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