SPEND $20 TO MAKE $80? THE UTAH FILM INDUSTRY ASKS THE STATE TO GET COMPETITIVE
Spend $20 to make $80? The Utah film industry asks the state to get competitive (abc4.com)
SALT LAKE CITY (ABC4) – COVID is not the only thing that knocked Utah’s film industry for a loop. Recently, large productions have chosen other states rather than Utah because it can’t compete with what other places are offering the film industry.
In 2021, the State Legislature is presenting Senate Bill 167, otherwise known as SB0167, to try and make Utah more competitive.
They’re called film incentives, or post-spend rebates, and they have become a major part of the film industry, television, web media, and virtual reality financing.
Simply put, a film would carry out their full production in Utah, keep every receipt for everything they spend from crew, to fuel, to gear, exhibit how much money was put into the local economy, and then a third party auditor sifts through the information and determines how much of a rebate – or film incentive – the production is qualified to receive.
By: Tracy Smith
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