All articles tagged with #film incentives
Georgia is actively pursuing its goal to become the Hollywood of the Caucasus by attracting international film productions with generous incentives and diverse locations, but its ambitions are challenged by political instability and concerns over authoritarianism and regional conflicts.
Texas has increased its film incentive program to $150 million annually, aiming to attract more film and TV productions to compete with states like New Mexico and Georgia, and to promote local stories and industry growth.
States have spent over $25 billion in the past 20 years to attract film and TV productions through incentives, with 38 states currently offering some form of incentive. While supporters see these incentives as a way to create jobs and stimulate local economies, economists warn that the return on investment is minimal, with tax revenue generated often being a fraction of the amount invested. Incentives come in the form of cash rebates, grants, or transferable tax credits, which studios can sell to companies with high state-tax liabilities. Despite the high cost and minimal returns, states like Michigan are considering rejoining the race to attract Hollywood productions.