Clocktower Tax Credits recently attended SXSW, where conversations with producers, financiers, and production personnel reflected a financing environment that remains active, yet increasingly disciplined. Projects continue to move forward with gusto, but producers are under greater pressure to tighten budgets, build stronger capital stacks, and secure distribution pathways earlier in the process.

A consistent theme at the festival was the ongoing production migration away from Los Angeles to locations in Texas, Illinois, and New Jersey. In many cases, larger-budget projects find the incentive economics and lower labor costs of international jurisdictions even more enticing, and have moved overseas. However, there is a growing industry push to keep production domestic and affordable. Many discussions focused on improving U.S. incentive policy at both the state and federal levels, including the use of Section 168(k) and a renewal of Section 181.

In this environment, state tax credits remain one of the most practical tools available to support project financeability. In a tighter filmmaking market, they are often a central and secure component of a project’s risk management and cash flow strategy.

Another major takeaway from SXSW was the clarity gap around tax credit programs across jurisdictions. Most producers understand the value of tax credits, but lack visibility into how individual programs are structured and operate, how transfer mechanics vary, and how credits are efficiently converted into cash proceeds. That uncertainty can create avoidable headaches late in the process, especially when teams are already managing distribution, delivery timelines, and lender obligations.

To that end, timing remains one of the most important operational issues. A pattern we at Clocktower continue to see is producers waiting until later in the process to plan for tax credit monetization. While credit transactions still close that way, early planning in coordination with a producer’s post-production accounting and audit processes can improve financial certainty around the value and timing of tax credits. Depending on deal design and timing, those proceeds can help de-risk investor exposure, accelerate debt repayment, support equity return pathways, and, in some cases, provide finishing funds for post-production, delivery, or marketing and P&A.

SXSW reinforced that projects best positioned for success are those that treat tax credit monetization as a core element of financing, and not a downstream afterthought. As budgets tighten and timelines compress, producers benefit from planning their incentive strategy earlier, aligning legal/accounting/financial timelines, and preparing for credit transfer well before the final stage.

Clocktower Tax Credits continues to support producers and production companies with practical, transaction-focused guidance and execution on transferable tax credit monetization.

If you are producing a film, television, or digital media project and want to discuss how transferable tax credits can support your financing strategy, please contact Mark Cooper at Clocktower Tax Credits, LLC at (323) 243-6314 or MCooper@ClocktowerTC.com.

For nearly 16 years, Clocktower Tax Credits has been a trusted leader in the monetization of federal and state tax credits. As tax credit markets continue to evolve, Clocktower has expanded beyond its core competence in Real Estate, Renewable Energy, and Film Production incentives into a broader range of niche tax credit programs, applying the same disciplined execution and market expertise that have defined our platform.

This expansion is driven by growing demand from both credit originators and investors, as well as Clocktower’s ability to navigate complex credit structures and efficiently bring them to market.

In recent years, Clocktower has successfully marketed, and continues to actively market, a range of non-real estate tax credits that support economic development, entrepreneurship, job creation, and community investment. These programs include:

• Indiana Venture Capital Investment Credits
• Arkansas Equity Investment Credits
• Kansas Angel Investor Tax Credits
• Colorado Job Growth Incentive Tax Credits
• Kansas Community Service Program Tax Credits
• Louisiana Research & Development Tax Credits

Each program carries unique statutory requirements, compliance considerations, and transfer mechanics. Clocktower’s experience across jurisdictions allows us to manage these complexities while delivering a streamlined process for credit holders and investors alike.

Clocktower’s growth outside of real estate, energy, and film tax credits builds on the firm’s core strengths of deep market knowledge, strong institutional relationships, and a hands-on, full-service approach to transactions. Our long-standing relationships with banks, insurance companies, and Fortune 1000 investors enable us to generate competitive pricing and reliable execution across a wide range of credit types.

For clients with tax credits to sell, this means fewer administrative burdens, clear guidance throughout the transfer process, and confidence in closing.

As states expand incentive programs beyond traditional structures, Clocktower remains well positioned to serve as a trusted partner in an increasingly diverse tax credit marketplace. Our continued expansion reflects a deliberate strategy to broaden our platform while maintaining the high standards, consistency, and execution certainty our clients expect.  If you are a company or entity currently or prospectively earning transferable state incentives of any type, please reach out to Clocktower Associate Felix Ferrucci at (978) 793-6694 or FFerrucci@clocktowertc.com to discuss our services.

Clocktower Tax Credits, LLC, a national broker of State and Federal Tax Credit incentives, has expanded on both the East and West coasts.  We are proud to welcome Felix Ferrucci as an Acquisitions Associate, working out of the firm’s Maynard headquarters and overseeing activities across the Northeast and West Coast regions of the United States.  Felix brings a strong academic foundation, holding a Bachelor’s degree in Communications and a Master’s degree in Finance from the University of Massachusetts Amherst. His blend of financial expertise and communication skills uniquely positions him to build strong partnerships and drive strategic growth for Clocktower’s expanding portfolio.

In his role, Felix will focus on building relationships with developers, attorneys, accountants, and state representatives to help catalyze Clocktower’s involvement in affordable housing and economic development projects. By supporting development teams in monetizing their tax credits and strengthening their capital stacks, he will play a key role in expanding Clocktower’s market presence.  Felix can be reached at FFerrucci@ClocktowerTC.com and (978) 793-6694.

In addition, Clocktower enhanced its west coast presence with the hiring of Mark Cooper as an Acquisitions Associate specializing in Film, Television, and Digital Media-based tax credits.  His experience spans work at Netflix, as a development and production executive with BarBHouse Productions, and as Manager of Acquisitions, Development, and Production at international sales agency The Exchange and NEXT Productions.  Drawing on his background in film finance, production oversight, and sales, Mark partners closely with producers and production companies to monetize their credits and move their projects across the finish line.

He earned his Master’s degree in Producing for Film & Television from USC’s Peter Stark Producing Program and his Bachelor’s degree from the University of the Arts. He is currently based in Los Angeles, after several years in New York.  Mark can be reached at MCooper@ClocktowerTC.com and (323) 243-6314.

“We are super excited about bringing the energy and talent of these two new Associates to our team,” said Clocktower President Jeff Jacobson.  “As we complete our 15^th year providing tax financing solutions to the Real Estate, Film & Digital Media, and Renewable Energy industries, we maintain our national leadership in working with corporate America to drive tax savings.”

We’re proud to announce that two affordable housing projects will break ground this year, the result of another impactful collaboration between Preservation of Affordable Housing (POAH) and Clocktower Tax Credits—addressing greatly needed housing shortages in both Dorchester and Attleboro.

Columbia Crossing, situated in the heart of Upham’s Corner neighborhood, will transform the historic Dorchester Savings Bank building and adjacent parking lot into 48-units of income restricted rental housing, in addition to over 3,500 square feet of commercial space. This mixed-use development is designed for artists with a significant portion of the units reserved for artist housing and dedicated spaces for arts amenities.

Gardner Terrace II & Hebronville Mill Apartments are located three miles south of downtown Attleboro along the Ten Mile River. This former textile mill was converted into apartments back in 1985, but are now in need of substantial rehab. Once the renovations are complete, the complex will have 135 residential units, with the majority being income restricted.

Clocktower is working with POAH to place the MA Historic and MA LIHTC’s generated from these two projects.  We look forward to the ribbon cuttings in 2027!  If you are considering a project in MA, or anywhere on the east coast, contact our Senior Associate, Dave Auster, at (978) 793-6600, or by email at DAuster@ClocktowerTC.com.

Clocktower Tax Credits, LLC recently completed its seventh sale of Production Tax Credits (PTCs) generated by an array of Wind Turbines owned and operated by a large international energy company.   Over $1.2 million of State of Iowa production tax credits were generated by the ten turbine installations across locations in four counties, each rated at 3MW.  Energy production from each turbine ranged from 8.2GWhr to 11.1GWhr.

Clocktower sold the PTCs to a national insurance company which used the tax credits to partially offset the premium taxes paid by the insurer to the State of Iowa.  The tax credit transaction represents a win-win-win for wind, in that the turbine owner received substantial funds to offset capital and operating costs; the insurer saved on its taxes, and the State replaced over 100GWhrs of fossil-derived energy with clean, renewable power.  Original capital costs for the system exceeded $50 million.

“Clocktower did a wonderful job in securing this important source of project funding and continues to ensure that we are paid on a timely basis for our annual production credits,” says the managing director of the European company.

Clocktower Tax Credits, LLC is celebrating its 15^th year as a national broker of State and Federal Tax Credits.  We are a pioneer in the area of Transferable Tax Credits, completing transactions in State credits for a decade before the Inflation Reduction Act of 2022 created transferable Federal tax credits.  Renewable Energy developers, sponsors and owners looking to monetize their tax credits and benefits should President Jeff Jacobson at (978) 823-0200, or email him at JJacobson@ClocktowerTC.com.