Gov. Kaisch Signs $40 Million Tax Rebate Bill
last updated 07/03/2016
Ohio Motion Picture Tax Credit Program Doubles Budget to $40 Million FilmDayton Working To Bring It To Dayton.
Gov. Kaisch Signs $40 Million Tax Rebate Bill
Ohio Governor John Kasich has signed into law the revised Ohio Motion Picture Tax Credit, passed by the Ohio General Assembly, which raises the annual movie production incentive, doubling the cap to $40 million and changes the incentive rate to 30% on all production dollars spent in Ohio.
This new incentive elevates Ohio to the competitive level of states like Georgia and Louisiana, which currently lead the country in film production. Since passing the film incentive in 2009, over $100 million has been rebated to production companies, shooting movies in Ohio. Of that money 90% has gone to Cleveland and Cincinnati projects.
In April of this year FilmDayton reorganized itself into a Film Commission, to get a seat at the table to bring some of those jobs to the Miami Valley. "We have the locations, amenities and crew base to bring film work to town. We are currently working to rally the support of the city and surrounding counties to help the Greater Dayton area benefit from the economic development the Motion Picture Tax Rebate can deliver." says FilmDayton Executive Director Lisa Grigsby.
According to an economic impact study conducted by the Economics Center at the University of Cincinnati, Cincinnati has generated more than $54 million for the Greater Cincinnati economy as well as created more than 8,800 jobs through motion picture and television productions over the last two years.
Since July 2011, the Ohio Motion Picture Tax Credit has accounted for the creation of the equivalent of 1,729 full-time jobs, and over $400 million of total economic impact in the Cleveland area.
"The city of Columbus just earmarked $90,000 to jumpstart FilmColumbus, and so far Dayton has been working with private donations to run our commission," shares Grigsby. According to FilmDayton President Shaunn Baker, "Dayton is just prime for a small $5-$10 million production. Booking hotel nights, catering, and locations would bring direct dollars to our community. Not to mention putting to work our local crew."
Last year's $20 million dollar in rebates were all accounted for by mid-winter, thus the doubling of the budget for fiscal year 2016-17. This year's $40 Million in rebates will start being awarded July 1st and applications are already cued and awaiting certification. Film Budgets must be a minimum of $300,000 to apply for the program.
FilmDayton -The Greater Dayton Area Film Commission is the only 501(c)(3) non-profit organization committed to fostering economic development in the Miami Valley by attracting media production and businesses that can make a significant economic impact on the local economy. We promote the art, craft and business of film by developing our local workforce and providing programs designed to provide local talent with the training, experience and professional connections to enable them to succeed in the film industry.
According to an economic impact study conducted by the Economics Center at the University of Cincinnati, Cincinnati has generated more than $54 million for the Greater Cincinnati economy as well as created more than 8,800 jobs through motion picture and television productions over the last two years.
Since July 2011, the Ohio Motion Picture Tax Credit has accounted for the creation of the equivalent of 1,729 full-time jobs, and over $400 million of total economic impact in the Cleveland area.
"The city of Columbus just earmarked $90,000 to jumpstart FilmColumbus, and so far Dayton has been working with private donations to run our commission," shares Grigsby. According to FilmDayton President Shaunn Baker, "Dayton is just prime for a small $5-$10 million production. Booking hotel nights, catering, and locations would bring direct dollars to our community. Not to mention putting to work our local crew."
Last year's $20 million dollar in rebates were all accounted for by mid-winter, thus the doubling of the budget for fiscal year 2016-17. This year's $40 Million in rebates will start being awarded July 1st and applications are already cued and awaiting certification. Film Budgets must be a minimum of $300,000 to apply for the program.
FilmDayton -The Greater Dayton Area Film Commission is the only 501(c)(3) non-profit organization committed to fostering economic development in the Miami Valley by attracting media production and businesses that can make a significant economic impact on the local economy. We promote the art, craft and business of film by developing our local workforce and providing programs designed to provide local talent with the training, experience and professional connections to enable them to succeed in the film industry.
Links & Tags
Film Dayton.
