We will provide commentary throughout 2023 and into the 2024 legislative session to include comments, analysis and links to other resources regarding the ongoing review of the film tax credit. If you have questions, suggestions or comments, please email me – randy@georgiaentertainmentnews.com – Randy Davidson, President, Georgia Entertainment News – See all advocacy content here.
4/26/23 – An Overview
We were excited to see the announcement this week from Lt. Governor Burt Jones and Speaker of the House Jon Burns announcing their appointees to review Georgia’s film tax incentive. Remember the Governor, Speaker and Lt. Governor wisely announced the review during the heat of this year’s legislative session. That announcement essentially paused potential legislation that many believed might cause film production companies to redirect spending instantly out of Georgia causing sudden job loss in the film industry and eventual job losses in gaming, music and other areas of digital entertainment.
As a result of this review, we have an opportunity to engage with the appointees and share key information for consideration.
Commentary: Georgia’s film investment incentive is essential to entice meaningful direct spend from production companies – it’s just the way it is. State incentives are baked into a film production’s P&L. Year after year, because the credit has no cap, educational and workforce development programs along with businesses have been able to plant deep roots into Georgia. This incentivized spending in Georgia each year has clearly benefited those that do not directly participate in the credit – smaller film productions, music, gaming and other forms of digital entertainment, not to mention car rental companies, hotels, lumber yards, caterers, medics and more.
Could adjustments be made, geographic inclusion incentives be considered, curriculum programs enhanced, etc.? Yes, but toward expansion, not contraction.
Georgia’s economy is the envy of economic and political leaders in New York and California, even London. States like Texas are fighting hard to diversify out of energy and guess which industry they aim to invest heavily in? But thanks to our elected leaders past and present, we have a diversified economy with high paying jobs in the creative industries today. In addition, remote work is a mega trend and coincidently (accelerated by the pandemic) these jobs are right in the sweet spot of entertainment – jobs where Georgians live.
My hope during this process is that our advocacy organizations will collaborate to share the measurable and hard to measure benefits of growing the entertainment and creative industries in Georgia. As for legislators, my hope is they will embrace this victory, take the win and let’s keep winning in the name of jobs, education and wise diversification. And for all our readers, I hope you will constructively engage with the appointees of this committee and certainly with your local legislators to keep these jobs in Georgia.
More soon. Onward and upward.
