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Business & Startups

Hawaii Film Industry Modernization Could Sway Ancillary Service Demand and Investment

·6 min read·👀 Watch

Executive Summary

The state is pushing to modernize its film tax credits and rebuild production volume to attract larger film and television projects. Businesses in supporting industries should monitor these developments for potential shifts in demand and new partnership opportunities.

  • Entrepreneurs & Startups: Potential for new service contracts and scaling opportunities.
  • Investors: Emerging sector for focused investment if state incentives materialize.
  • Small Business Operators: Potential for increased local spending by productions.
  • Action: Monitor legislative actions on tax credits and production volume metrics.

Watch & Prepare

Medium Priority

The state is actively seeking to improve its competitive edge, and businesses in ancillary services should monitor developments and prepare for potential shifts in demand or new partnership opportunities.

Monitor legislative discussions and official announcements from the [Hawaii Film Office](https://filmoffice.hawaii.gov/) regarding enhancements to the state's film tax credit program and initiatives to attract larger production projects. Pay close attention to metrics on production volume and expenditure. If legislative changes are enacted and production commitments from major studios are announced, reassess your business's capacity to support this growth and explore partnership opportunities within the first six months of official policy implementation.

Who's Affected
Entrepreneurs & StartupsInvestorsSmall Business Operators
Ripple Effects
  • →Revitalized Film Production → Increased Demand for Local Services (Accommodation, Catering, Logistics) → Higher Local Spending → Potential Local Price Inflation for Goods and Services
  • →Modernized Tax Credits → Greater Production Volume → Increased Demand for Skilled Local Labor → Wage Increases in Creative and Support Roles
Close-up of a professional video production setup on an outdoor film set.
Photo by Lê Minh

The Modernization Push: Competing for Hollywood's Next Big Production

Hawaii's film commissioner is advocating for an overhaul of the state's film tax credit program and a strategic increase in production volume to re-establish the islands as a competitive filming location. While the state boasts a skilled local crew base, it faces challenges in attracting major productions due to outdated incentives and a recent decline in project pipelines. The goal is to create a more robust and consistent flow of film-related business, moving beyond episodic television and smaller projects to secure larger feature films and high-budget series.

Hawaii Film Office

Who's Affected

Entrepreneurs & Startups: A successful revitalization of Hawaii's film industry could translate into increased demand for specialized services. This includes technology providers for virtual production, logistics and equipment rental companies, catering services, and creative agencies. Startups that can offer innovative solutions tailored to the film production lifecycle may find new avenues for growth and client acquisition. The ability to scale operations quickly to meet fluctuating production demands will be key.

Investors: Significant modernization of film tax credits by the state could unlock new investment opportunities within Hawaii's creative sector. Venture capitalists and angel investors might consider businesses that directly support film production, such as post-production houses, digital asset management firms, or companies specializing in sustainable production practices. Real estate investors might also see opportunities in developing or repurposing spaces suitable for studio facilities or production support.

Small Business Operators: Increased film production volume directly correlates with increased local spending. This can benefit a wide range of small businesses, from restaurants and hotels housing cast and crew to retail shops for supplies and local artisans contributing to set design. A more consistent production schedule could lead to more stable demand for these services, potentially reducing seasonal lulls.

Second-Order Effects

Revitalized Film Production → Increased Demand for Local Services (Accommodation, Catering, Logistics) → Higher Local Spending → Potential Local Price Inflation for Goods and Services: A surge in film production could put increased demand on finite local resources, including accommodation and specialized equipment. This heightened demand, coupled with existing logistical challenges, could drive up prices for these services, impacting both the film industry's cost base and for local consumers.

Modernized Tax Credits → Greater Production Volume → Increased Demand for Skilled Local Labor → Wage Increases in Creative and Support Roles: As the state aims to attract more productions, the demand for skilled film crews and support staff will rise. This could lead to upward pressure on wages in these sectors, potentially drawing talent from other industries or creating opportunities for local workforce development.

What to Do

Entrepreneurs & Startups: Begin researching specific needs within the current and projected film production landscape in Hawaii. Identify gaps in services or technology where your startup can offer a competitive advantage. Explore potential partnerships with existing production companies or the Hawaii Film Office.

Investors: Monitor legislative progress and announcements regarding changes to Hawaii's film tax credit program. Assess the financial health and scalability of local companies that provide services to the film industry. Look for early indicators of increased production activity.

Small Business Operators: Assess your current capacity and ability to scale services to accommodate potential increases in demand from film crews and productions. Consider marketing your services directly to the local film industry or the Hawaii Film Office.

Action Details

Monitor legislative discussions and official announcements from the Hawaii Film Office regarding enhancements to the state's film tax credit program and initiatives to attract larger production projects. Pay close attention to metrics on production volume and expenditure. If legislative changes are enacted and production commitments from major studios are announced, reassess your business's capacity to support this growth and explore partnership opportunities within the first six months of official policy implementation.

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