With the passing of HB 3367 and on to the Governor’s Desk for signature, the Oregon Production Investment Fund now has a little breathing room to consider new projects. The expansion of OPIF (extra $4million a year) will not go into effect until early October but in the meantime the fund does have approximately $700,000 available for new projects. We have received three applications already and are reviewing those applications but we would like to open up the application process for the next week and consider all applications submitted between July 1 and July 19 at the same time. We will be looking for projects that are fully financed and ready to be produced in this calendar year but are open to projects that spill over into early 2014. Most importantly, those projects that are willing to provide us some discount on the rebate will be given priority. This means that if your expenditures on a project normally would net you a $300,000 rebate but you were willing to take $200,000, then you would likely be given first priority.
Our hope is to get as close to $7 million of production in Oregon for this $700,000.
The Greenlight Labor rebate not part of this bidding process. It will continue to work as it always has. The iOPIF program is also outside this process and is still accepting applications. Applications for all three programs can be found here.
If you have any questions, please feel free to call me at the film office (503) 229-5832.