Governor Brian Kemp explained the continued job creation in the industry in a press release. “In addition to providing production jobs that offer a variety of skills from accounting to carpentry to engineering and graphic design, the productions utilize local vendors, dine at Georgia restaurants and stay at our hotels. Hm”, Said. “We’re proud to educate decision makers in Georgia in film and television production while preserving their talent in our state, and we look forward to the continued success of this industry in the Peach State!”
The $4.4 billion in direct spend equates to about $1.3 billion in tax credits given to companies including Sony, Paramount and Universal. It accounts for about 4.3% of the state’s total budget and is the largest single-industry tax credit in the state.
With streaming services promoting Hollywood’s record production in screenplay programs, demand for sound stages in North America remained strong in 2022. This has led to the development of new studios in Georgia as well as the expansion of existing studios. Among the newcomers: Athena Studio in Athens, Electric Owl Studio in Stone Mountain and Assembly Studio in Doraville. United Talent Agency, one of the largest talent agencies in the world, also opened a full-service office earlier this year.
The industry is currently in a state of upheaval as cable and broadcast networks scale back investments and pour billions into streaming content. Georgia faces potential headwinds that could reduce the industry’s footprint if manufacturers decide to leave the state or cover hot topics like gun rights, voting rights, LBGTQ+ rights and abortion rights on its sound stages. prioritize usage.
Georgia severely restricted access to abortion after Supreme Court Roe v. Wade lifted in June, with nearly 1,000 Hollywood television listeners recently asking studios in states like Georgia about employees seeking abortion services. Signed letters asking for security.
Georgia remains the third-biggest state for television and film production, behind New York and California, due to its uncapped tax credit system that produces big-budget films. If a studio spends $100 million on a Georgia film, it gets $30 million in tax credits that it can use itself or sell to third parties. Both New York and California also offer tax credits, but the scope is more limited.
Gavin Newsom of the California government, in an industry publication last week, directly urged the studio to return to California and avoid states like Georgia, saying the state’s values don’t align with California’s values. Other states with more liberal access to abortion, such as New Jersey and North Carolina, are trying to pressure studios to reduce their reliance on Georgia as a business location.
Right now, sound stage demand seems strong based on the current list of upcoming movies and televisions coming to Georgia in the coming weeks. But studios often plan months — and sometimes years — in advance, and any impact the abortion law will have on the state likely won’t be visible until the fall.
Georgia attracted $2.7 billion in direct spending each fiscal year in 2017 and 2018, with a slight increase from $2.9 billion in 2019 and a temporary decline to $2.2 billion in 2020 due to the pandemic.
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