Georgia Film Credit Grows to Record $1.3 Billion
January 17, 2023
[variety.com]
A new article on variety.com states that the state of Georgia has set a new record for film and television production tax credits. In the fiscal year 2022, the state approved $800 million in tax credits for film and television productions, surpassing the previous record of $800 million set in 2020. This increase in tax credits is a result of the state’s competitive film industry and the growing demand for new content.
The state’s film and television industry has been thriving in recent years, thanks in part to the state’s generous tax incentives and the availability of diverse filming locations. In addition to the tax credits, Georgia offers a variety of other incentives such as a sales tax exemption on production-related purchases, and a wage-tax credit for in-state residents.
This new record in film and television production tax credits is a testament to the state’s commitment to supporting the industry and attracting top talent. The state’s film and television industry is expected to continue growing in the coming years, creating jobs and economic opportunities for residents.
“Georgia’s film infrastructure has grown exponentially over the last decade, as hundreds of TV episodes and dozens of films are shot in the state every year. Among them are Marvel’s “Black Panther: Wakanda Forever,” the Netflix shows “Ozark” and “Stranger Things,” and AMC’s “Fear the Walking Dead.”
The state was among the first locations to reopen fully after the pandemic, and production has rebounded strongly from a down year in 2020. In the last two years, the state has issued $1.2 billion and $1.3 billion in tax credits.”
By Gene Maddaus
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