Georgia’s Film Industry Thriving under new Film Tax Credit Plan

 

The third most popular filming state seen reaping new benefits.

 

While Ben Affleck’s new thriller, “The Accountant,” rakes in revenue at the box office, the state of Georgia reaped in the benefits from the reportedly $21 million spent in the state during filming as the state continues to grow as a major film industry powerhouse. Georgia, currently the third most popular state for filming in US, provides one of the strongest tax credit programs with a credit of up to 30% of production costs and most importantly no funding cap.

The 1972 hit movie, “Deliverance,” brought such attention to the state, that the Georgia Film Commission was created in the early 70s to oversee in-state production. Since then, the industry has grown and with the passage of the state’s tax credit incentive program in 2002, the industry has expanded exponentially. Major TV series, like “The Walking Dead,” “Stranger Things,” and “The Vampire Diaries,” along with huge blockbuster movies like “The Hunger Games,” and “Captain America: Civil War” helped establish Georgia as a major filming destination. Filmmaker Tyler Perry resides permanently in Atlanta and provides over 400 jobs with his studio creating successful movies and TV shows. He also recently bought a former army base to be rebuilt as an even larger studio complex.

 

In Georgia, Films = Jobs

According to the MPAA, the film industry contributed over $7 billion to the economy through 3,000 production businesses. Georgia keeps many of the benefits in state through its vendor requirement which stipulates that qualified expenses may be purchased from Georgia based vendors only. Additionally, the program offers a 10% promo credit for the use of the Georgia Peach Logo. The credit also benefits Georgia residents who currently number around 25,000 along with more than 30,000 indirect employees. Growth continues especially in studio spaces, currently at 45 not including Tyler Perry’s planned expansion.

 

KPM’s Take:

Georgia is reaping all the major benefits of filming within their state from jobs to economic stability. With all of the program’s benefits and the necessary infrastructure continuing to grow, Georgia’s credit has made a major contribution to permanent industry set to rival historical film havens like New York and California for years to come.

For more information about shooting your next film in Georgia, or for help deciding which tax credit program could best benefit your next production, call us at 781-849-5357 or email us at filmcredits@kpm.us.