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March 1, 2016

GSU analyzes film industry impact to Georgia

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Passed by the legislature in 2005, the Georgia Entertainment and Industry Investment Act (GEIIA) currently provides a one time tax credit of 20% on projects exceeding $500,000 and an additional 10% tax credit for productions that embed a Georgia logo.  These credits are transferable and unused credits can be carried forward for 5 years.  The GEIIA is responsible for bringing blockbusters television and movies like "Hunger Games: Catching Fire,” “Anchorman 2: The Legend Continues,” “The Walking Dead,” “Sleepy Hollow” and “Ant-Man” to Georgia.

 

Due in part to the GEIIA, Georgia now has the 5th highest number of workers in the film and video production industry.  The Georgia State University Fiscal Research Center has released an analysis of Georgia's film tax credit and compared it to the incentives offered by other states. GSU researchers found that Georgia’s film tax credit is one of the more generous in the country and since the introduction of the tax credit in 2005, employment growth in the film industry has exceeded the average job growth in Georgia.

 

GSU researchers concluded that "conducting an overall cost-benefit analysis of the incentive program requires the ability to isolate the costs and benefits that derive solely from the film tax credit from other factors, such as overall growth in the economy or the film industry, that may also influence the level of activity occurring in the state."  Even though it is difficult to determine exactly how many jobs are attributable to the film tax credit and how other extrinsic factors such as available skilled labor, climate, transportation and infrastructure play into the overall calculus of job creation it is quite clear the film tax credit is having a positive impact on our state.

To read the full GSU report, click here.

 

 

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