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September 25, 2007
WashingtonFilmWorks
Reaches 2007 Fundraising Goal
Private non-profit organization raises $3.5M to encourage film production statewide.
Spokane, WA (September 25, 2007) -- WashingtonFilmWorks (WFW) announced today that it has successfully reached its 2007 fundraising goal and raised $3.5M to incentivize film production statewide. With the addition of the $2.7M raised in 2006, the organization now has over $6M to lend funding assistance to commercials, television projects and feature films shooting in Washington State.
WFW can raise up to $3.5M per calendar year and Washington based businesses with a Business and Occupation tax liability can make cash contributions to WFW and receive a tax credit in return. Contributions have been both big ($1M) and small ($2K), and support has come from a variety of businesses statewide. WFW would like to thank their 2006 and 2007 contributors which include, among others., Alpha Cine Labs, Avista Corp., Holland America Line, IMDb, Inventive Pictures, Media Agents Inc, Sheraton Seattle, Starbucks, Sterling Savings Bank, and Washington Trust Bank. For additional information on contributing to the fund for 2008, visit the section of the WFW website.
Since launching the program in February of 2007 the Board of Directors has approved a variety of filmmaking projects including five feature films, two national commercials and three movies of the week for television. According to a report recently completed by the state's Department of Community, Trade and Economic Development, there is a return on investment of 5:1 for the first two projects that have completed the program.
"As board members we are excited about bringing the film industry back to Washington State and we are grateful for all of our investors who have chosen to join with us in this effort." said Becky Bogard, chair of the WFW Board.
"Sterling Savings Bank is happy to support WashingtonFilmWorks mission. We understand the positive economic impact that filmmaking has on Spokane and Washington State and we are thrilled to sponsor a program that makes our city a creative and vibrant place to live," said Bill Zuppe, Chairman and CEO of Sterling Savings Bank.
History
WFW was formed in July 2006, pursuant to legislation sponsored by Senator Lisa Brown (D., Spokane). Following the appointments by the Governor of the Board of Directors, the organization received its tax-exempt designation and began to aggressively pursue contributions. By the end of calendar year 2006 WFW had raised $2.7M from Washington state businesses.
In January 2007, WFW hired an executive director, Amy Lillard Dee. Before accepting applications for funding assistance, the Board and staff created rigorous guidelines, criteria and application forms for the program. A website () was created for easy public access to information.
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