May 26, 2004

Attorney Will French Garners Media Attention

Biz New Orleans magazine featured firm attorney Will French in its May 2004 issue in an article about Louisiana’s Motion Picture Incentive Act. In addition to his practice with our firm, French is also president of Louisiana Production Capital, L.L.C., which has helped break new ground in the area of film finance in the state. After the legislature changed its film production incentive program last year to allow out-of-state film, television and video producers to transfer special tax credits to Louisiana taxpayers, LPC geared up to serve as a broker between producers holding unused credits and Louisiana residents with tax liabilities.

"Producers, when they come to the state, have no idea how to find the taxpayers themselves," French told Biz New Orleans. "Likewise, taxpayers have no idea how to find the producers when they come to the state. Producers sometimes are only here for a few weeks at a time so I do my best to find the producers as they come in and negotiate the acquisition of the credits from them. Oftentimes I have to give promises and promissory notes upfront that they can then take to the bank and then borrow against."

French succeeded in brokering sales of $3.7 million worth of 2003 credits and expects that number to grow to at least $15 million in credits this year.

French also discussed the incentive program on Bob Christopher’s show on Biz Radio 990, along with Mark Smith, Director of the Governor’s Office of Film and Television Development.

In addition, New Orleans City Business has named French’s company a finalist for its Innovator of the Year Award.

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