Georgia’s film and TV industry tax credit is on shaky ground as the state looks to raise revenue. And other states could benefit from just the rumor of eliminating the credit.
A special tax reform council recommends doing away with the film credit. It's worth up to 30 percent of a local production’s cost. The council says there’s no conclusive proof the credit brings the state more money than what it costs.
A similar conversation is going on in Michigan, where its legislature is considering dropping that state’s generous 40-percent film industry credit.
And Aaron Syrett with North Carolina’s film office says his state is already benefiting from productions fleeing Michigan.
“If you look you saw some films just leave -- replace their films elsewhere because of the lack of certainty. That’s the one thing that the studios need when going into a state is that the incentives will be there when they are done. And it’s certain that they will be there.”
North Carolina just increased its film credit to 25-percent last year.
On Tuesday a Georgia House economic development committee heard from interested film and TV industry parties lobbying to keep this state’s credit.