In Rhode Island, Two Major Studio Projects Are Now In Limbo as Hollywood Strikes

In Rhode Island, Two Major Studio Projects Are Now In Limbo as Hollywood Strikes

The SAG-AFTRA actors' strike could have significant ripple effects in Rhode Island.

Steve Feinberg, the head of the Rhode Island Film and Television Office, told GoLocal Friday morning that the implication means “millions” of dollars in movie tax credits could be “left on the table,” as two major productions slated to be filmed in the Ocean State are now in limbo. 

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The actors' strike, which begins at midnight Thursday, marks the first time in 63 years that Hollywood has had actors and writers' unions on strike simultaneously.

The impact of the two strikes is expected to have an adverse economic impact on the industry. 

“We have two major unnamed studio productions that we had anticipated coming to Rhode Island with pre-production in summer and production in the fall,” Feinberg told GoLocal. “We’re in a limbo state, until we receive further details.”

Feingberg added that a locally produced independent film pulled out of production this week and is now pushing for a 2024 date. 

 

Tax Credit Implications

According to Feinberg, the state’s film tax credits could go unused unless the strike is resolved. 

“If for instance you spend $10 million on a film on the ground, and you’re fully audited, you’ll get $3 million back,” said Feinberg. 

Feinberg noted the credits are calculated on the calendar, not fiscal year. 

The movie tax credit has an ancillary economic impact due to the local spending by the production companies, actors, and crew in the state of Rhode Island. 

“For 2023 we have $40 million [in movie tax credits] for the calendar year, and in 2024, we also have $40 million,” said Feinberg.

Feinberg was instrumental in bringing in such top-tiered productions at HBO’s The Gilded Age, Hocus Pocus 2, and Good Burger 2 to the Ocean State. 

If the anticipated movies don’t go into production in 2023 due to the strike, Feinberg said there could be ramifications. 

“Money could be left on the table,” said Feinberg. 

 

Feinberg on Record

Feinberg shared the following the announcement of the SAG-AFTRA strike: 

"It is with great disappointment today to announce that the Screen Actors Guild & AFTRA, along with the Writers Guild of America have not been able to reach mutually acceptable and negotiated agreements with the Alliance of Motion Picture and Television Producers. 

The Writers Guild and AMPTP have not been at the negotiating table in over 70 days to work on a settlement. And now the Screen Actors Guild & AFTRA are on strike. 

WE RESPECT AND VALUE THE ARTISTS, THEIR CONCERNS AND HOPE THAT MUTUALLY ACCEPTABLE AGREEMENTS CAN BE ACHIEVED WITH AMPTP IN A TIMELY FASHION.  MAKE A FAIR DEAL!!!

The Rhode Island Film & TV supports you and the future of the industry."