The East Coast Council of the International Alliance of Theatrical Stage Employes of the United States, Its Territories and Canada (IATSE) has raised the budget cap for special low-budget agreements from $6,000,000 up to $8,000,000 for theatrical features. The $6,000,000 lid has been in effect since the early 1990’s and the move addresses the effects of inflation. In addition, it is anticipated that the move will help to increase production volume in the New York area by addressing the reality posed by the current global production market.
The East Coast Council is comprised of the IATSE local unions based in New York which represent artisans and craftspeople in the motion picture and television industries. The Council’s purpose is to negotiate as a group, providing one stop customized labor agreements to producers