On Tuesday, the state government in Georgia could get shaken up, with all 236 of its Senate and House seats up for election. For the film industry, the possibility of a newly constituted Statehouse raises the question: What changes could be in store for Georgia’s entertainment tax credit program, which handed out $870 million in subsidies in 2019?
Since the program was introduced in 2008, Georgia has grown from a state that hosted a smattering of productions into a full-fledged “Hollywood of the South.” Even amid the pandemic, the state reported that 234 movies and TV shows filmed there during the 2020 fiscal year. The 30 percent tax credit, unlike in other states, is uncapped and covers above-the-line costs, making it a wildly attractive place to shoot big-budget projects like the $356 million “Avengers: Endgame” and $8-million-per-episode “Stranger Things.”
Just like states across the country, Georgia is grappling with a pandemic-recession hit to its finances: The budget for the current fiscal year, approved in June, forced most state agencies to take a 10 percent hit. The largely popular film tax credit program, however, is virtually a non-factor during the election. See more at IndieWire.