John Grand (LSU, Class of 2006) has published Motion Picture Tax Incentives:  There’s No Business Like Show Business, 39 State Tax Notes 791 (Mar. 13, 2006), also available on the Tax Analysts web site as Doc 2006-2997, 2006 STT 48-2.  Here is the Conclusion:

Louisiana’s motion picture incentive program has advantages and disadvantages. Motion picture production companies don’t harm the environment when they produce films. Productions provide positive advertising for the state. Most importantly, motion picture companies create jobs and spend money in Louisiana. Louisiana needs new industries to move in and help rebuild the state’s economy, especially in the aftermath of hurricanes Katrina and Rita. Further developing Louisiana’s motion picture industry can help with this process. However, offering excessive incentives is needlessly costly. The administration of the Louisiana motion picture investor tax credit program needs to be overhauled and the transferability of credits should be eliminated. If the Louisiana Legislature makes necessary changes now, the program can become an effective means of creating long-lasting prosperity in the state.