MUMBAI
: In a move that confirmed its status as ‘the Mecca of film production in the Caribbean, Puerto Rico has extended its 40 per cent film tax credit until 2019.
Announcing the extension of Law 362, Governor Luis G Fortuno said that investors could also look forward to less red tapism as they went through the process of acquiring credits.
So far this year four films – The Rum Diary, starring Johnny Depp, Stone Of Dreams, Meant To Be, and One Hot Summer – have shot in Puerto Rico, injecting roughly $32.6m into the local economy according to Puerto Rico Film Commission sources.
Warner Bros‘ superhero saga The Losers is being currently shot in a newly launched studio launched DC Entertainment division.
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