Georgia leaders demand urgent tax credits to save film industry from rivals
- Industry leaders in Georgia's film sector advocate for increased tax credits to enhance rural production capabilities.
- The current tax credit stands at 20%, with a proposed 10% increase for rural areas to offset production costs.
- There is legislative skepticism about the feasibility of additional incentives amidst existing financial commitments.
In recent weeks, the House Rural Development Council in Georgia convened to discuss the growth and future of the state's film industry, which has faced heightened competition from other regions offering attractive tax incentives. The meeting featured a panel led by Matt Campbell, vice president of government relations at B.I.G. Entertainment Network, along with other industry leaders advocating for expanding tax credits to facilitate rural film production. They argue that increasing the current 20% tax credit by an additional 10% for areas outside metro Atlanta would help balance production costs and attract more filmmakers to the rural regions of Georgia. Jonathan Harb, who recently moved his post-production studio from California to Georgia, highlighted the potential for growth in the rural areas, indicating interest in establishing offices that cater to local talent and projects. Harb emphasized that increased incentives would allow Georgia to better compete against heavily incentivized locations where big productions are frequently set. The panel also stressed the importance of incentives applicable specifically to the post-production sector, which they believe is underrepresented in existing programs. Despite the strong advocacy for these tax credits, there is skepticism from legislative representatives like Rep. Al Williams, who questioned the feasibility of additional incentives. Williams noted that securing funding for existing incentives had previously been contentious, implying that the likelihood of passing new credits is slim given the state's current economic commitment to the film industry. The situation raises questions about Georgia's ability to maintain its status as a filming hub as competing states and cities leverage financial incentives to draw productions away. The panel members concluded that if Georgia wants to remain competitive, particularly in attracting high-profile projects and creating jobs in the industry, they will need to seriously reconsider their financial strategies to foster competitive growth in rural areas.