Entertainment industry payroll services company Cast & Crew Entertainment Services announced the launch of Cast & Crew Financial Services – a new division that will provide tax incentive financing and administration services for the film and television industry.
Deirdre Owens, who has 14 years experience in finance and media, has joined the company as vice president, production incentive financing. In her new position she will facilitate loans for film and television productions backed by production incentives, such as grants, rebates and transferable tax credits. Owens previously served as vice president of finance at Grosvenor Park Media, where she specialized in underwriting senior, gap and tax loans to production companies.
She will work with Joe Bessacini, vice president, film and television production incentives, who joined the company in 2008. Bessacini leads The Incentives Program (TIP) at Cast & Crew, which assists clients in navigating the ever-changing rules and requirements of production incentive programs both domestically and abroad. This group will also begin offering administrative services to producers, including estimating the value of tax credits, preparing and submitting applications, monitoring qualified expenditures and facilitating communication with auditors and the relevant governmental authorities.
“Deirdre brings a wealth of production financing experience, and Joe and his team are the go-to source for production incentive guidance and advice for the film and television industry,” said company president and CEO Eric Belcher. “This new initiative brings their collective experience together to provide a full-service production incentive offering for studio and independent production clients alike.”
Among the first motion pictures to benefit from their services is Voltage Pictures‘ The Cobbler, directed by Thomas McCarthy and starring Adam Sandler, Steve Buscemi and Dan Stevens. It recently wrapped production in New York. Cast & Crew Financial Services financed the New York state tax credits for the film.
