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FUNDING Italy

Regional film guarantee fund launched in Piedmont

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A new film production fund has been instituted in Piedmont Region as an incentive for film companies to invest in the territory. Combining tax incentives that should be reinstated on the national level, and a regional guarantee fund to back cinema, the initiative is a joint project between the Region, Finpiemonte (the Region’s financial law), the Istituto per il Credito Sportivo and Film Investimenti Piemonte (FIP).

This new financing tool is for film companies intending to make all or part of a project in Piedmont using local resources such as labour and companies, and will have an initial endowment of €250,000. The sum of the guarantees granted by the fund cannot exceed eight times its endowment, or €2m.

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Fund monies will be allocated on the condition that a production generates economic revenue in the region equal to at least 50% of the investment, and that the project already has a distributor attached.

Six films have already applied for guarantee funds: Sergio Rubini’s La delegazione, Il comandante e la cicogna by Silvio Soldini, Federico Moccia’s Amori e tradimenti, the fourth film by comic duo Ficarra and Picone, Paolo Genovese’s Immaturi: il viaggio and Studio illegale by Fabio Volo.

According to Film Piedmont president Paolo Tenna, the aforementioned productions all have “box office prospects of over €10m".

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(Translated from Italian)

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