INCENTIVE TO EXPIRE JULY 1, 2016: FUTURE OF MANY PRODUCTIONS IN THE FLORIDA IN QUESTION
Filmmakers, studios and members of the Florida business community will be disappointed to learn today that the Florida House and Senate appropriations chairs decided not to continue any economic development incentives related to film production in the Sunshine state. The incentive credit, which has been fully expended, will officially expire July 1, 2016. Many had hoped that the once thriving industry would be renewed and that Florida could turn the tide against film flight from the state. Since 2010, the industry has provided almost $4.1 billion to the Florida gross state product, but the $300 million set aside for credits has been depleted since 2013.
Film Florida, a non-profit devoted to film promotion in the state, estimates that in the time since the credit depleted, the state has lost out on $1.8 billion in positive impact on the state GDP and over $650 million in known lost opportunities. Despite Florida’s strong film schools as well as unique locations, ripe for any filming opportunity, there will be little activity in the foreseeable future with Georgia and Louisiana soaking up much of the filming activity in the area.
Many of the recent productions filming in Florida, including series like HBO’s “Ballers” and Netflix’s “Blood Line” will have to re-evaluate where to shoot new seasons. New film projects will find that Georgia, just to the north, can provide many of the same landscapes as Florida, but also boasts a strong film tax credit program. Florida, once the 3rd most popular state for filming will still be a destination for some smaller productions and location shots for larger productions, but big budget films on the scale of “Iron Man 3” and “Tomorrowland” will probably go elsewhere for filming.
For more information on the Film Tax Credits in other states please see our interactive map and click on a state or click here for details on Georgia’s Film Incentive program.