Every $1 in Film Tax Incentives Generates a Return on Investment of $6.30 in Economic Impact for the State of Georgia
Since the introduction of the film tax incentive, Georgia has gained prominence as one of the leading film and television production hubs in the world – attaining this status in a time of major competition across the United States and globally. A newly released study takes a comprehensive look at the economic impact of the tax incentive, and the role it plays in Georgia’s success. The findings from the nine-month expanded economic study are based on unprecedented access to new data; extensive qualitative and quantitative research; and sector-specific IMPLAN modeling, a robust economic modeling tool widely used over the past 40 years by local governments, business professionals and academics to analyze economic development policies and programs.
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The study found that less than 8% of Georgia’s production activity would have occurred without the film tax credit. Measuring activity that occurred only due to the tax incentive, the study found significant returns for the state of Georgia .
2022 Economic Impact of Georgia’s Film Tax Incentive
Protecting the film tax incentive preserves the return on investment that benefits all Georgians, ensuring the delivery of economic benefits, jobs, and opportunity to citizens across the state.
OPPORTUNITY AND JOBS
The Film Industry Brings Jobs for Georgians and Opportunities for Georgia Students Across the State
Georgia’s investments in the film industry boosted its position as a global leader in the creation of digital entertainment and related opportunities that come with it. Today, Georgia workers — and students — can pursue training and highly desirable, well-paying jobs that keep intellectual property and talent in the state. The tax credit fuels thousands of jobs for hardworking Georgians, creating jobs that range from electricians and construction workers to digital artists and computer programmers. Families and small businesses throughout the state count on the opportunities created by the tax credit.
Homebase Counties of IATSE 479 Crew Members
Increasingly, residents of counties outside metro Atlanta are working in high-paying, on-set crew positions such as set builders and camera operators. IATSE 479, one of several unions serving the film industry, provides crew members with benefits including healthcare and retirement plans.
Georgia Film
Academy Locations
The Georgia Film Academy (GFA) is considered the gold-standard worldwide for training future workers and helps ensure more talented Georgians remain in state to work. The GFA is in 28 University & Technical College System of Georgia institutions across the state.
STUDIO AND STAGE SPACE
Studio Infrastructure Investment is on the Rise, Bringing Jobs and Economic Development to Communities Throughout Georgia
Keeping Georgia’s film tax incentive stable is key to capitalizing on studio construction investment and jobs. From 2012-2022, the tax incentive spurred $1.28 billion in studio construction, an investment that 94% of studio owners say would not have gone forward in the absence of the tax credit. It’s notable that investment and spending on studio construction itself is not eligible to receive the film tax credit.
There is also significant studio construction investment planned in the coming years — nearly $3 billion — and studio owners confirmed that 100% of the investment is dependent on a stable tax incentive.
The benefits of studio construction are significant
for local communities and jobs:
2012-2022
5.6M
209
$1.28B
$2.49B
6,700
square feet of
stage space
soundstages, up from only 4 in 2012
in capital investment
in construction related economic impact
in construction related
jobs just in 2022
2023-2027
7M
77
$2.9B
$5.72B
15,400
square feet of
stage space
additional stages that will bring Georgia’s total to 286 stages
in capital investment
in construction related economic impact
in construction related
jobs in 2025
TOURISM
Georgia’s Film and Television Production Industry Drives Tourism
Tourism related to the state’s film industry generates considerable additional visitor expenditure, benefiting local businesses such as hotels, shops, and restaurants, and contributing to community pride and Georgia’s overall brand.
Regional Film Production Activity 2007- 2023
Film and television productions are a proven motivator for tourists to visit an area and can provide a significant boost for a community’s marketing, brand building and tourism efforts. Film productions have shot in every region of Georgia, and towns can capitalize on their status as a film destination.
Fueling Jobs and Spreading Revenue: Productions Have a Significant Impact Across Georgia’s Communities
Film production spending is a giant economic engine that fuels jobs and produces revenue for industries and communities far beyond the studio. Significant spending flows into areas of the economy such as real estate and hospitality, which do not solely service the screen production sector. Each of the more than 400 film and television productions pushed millions into local economies.
SINGLE PRODUCTION CASE STUDY
The Impact of a Single Feature Film Production: Production Spend
An analysis of production spending by one 2022 feature film found that nearly 67% of the production’s below-the-line spend poured into a wide range of industries.
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CASE STUDIES
Beyond the economic impact of film and television production, Georgia’s film tax incentive stimulates wider strategic impacts relating to local economic development, education and training, regional industry expansion and screen tourism. The report explored some of these through case studies:
A significant amount of film production spending flows to many other sectors of the Georgia economy. The report selected two productions for a ripple analysis to demonstrate the spread of production spending to non-film industry sectors, vendors and workers statewide: