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Accounting for production spending going to in-state people and businesses versus out-of-state people and businesses, the film tax credit program resulted in $32.6 million in new spending for the Massachusetts economy. The film tax incentive program generated additional Massachusetts state GDP of $168.5 million and personal income of $25.2 million.
Feb. 23—COLUMBUS — The Ohio Department of Development this week announced state support of more than $44 million in tax credits for the filming of TV series and feature films across Ohio.
Gov. Gavin Newsom unveiled a proposal on Sunday to increase California’s film incentive to $750 million, responding to calls to boost the struggling industry. At an event at Raleigh Studios in ...
Since 2018, New Jersey has approved $723 million in tax subsidies for film, television and “digital media” productions, public records show.
In 2023, legislation extended the state’s tax incentive program for productions for five years. It came as competition for film and TV production from other states and countries was on the rise.
State and Local Fiscal Relief – Prevents state and local cuts to health and education programs and state and local tax increases. Section 3 of ARRA listed the basic intent behind crafting the law. This Statement of Purpose included the following: To preserve and create jobs and promote economic recovery. To assist those most impacted by the ...
House Bill 2, which targets a broad range of incentive programs, aims to simplify the state’s tax code and reduce spending on incentives deemed ineffective or low-yielding. ... of film and TV ...
The New Mexico Film Office assists the industry in coming to and filming in the state. [28] In 2011 the state placed a cap of $50 million on tax credits for the film industry. The cost of funding the incentive soared from just $3.4 million in 2004 to $76.7 million in 2009. [29]