Pro Jobs. Pro Economy. Pro Michigan. — 30+ States Have Incentive Programs

Summary

A Michigan Film Industry Association document headed Pro Jobs. Pro Economy. Pro Michigan. It states that 30+ states have incentive programs, as do Puerto Rico, U.S. Virgin Islands and Washington, D.C. Under The Basics it describes a sustainable, transferable tax credit, not a rebate, and states that tax credits stay in Michigan and benefit Michigan companies and that unused funds roll over into the proceeding year. Dollar amounts are given for years 1-3, years 4-6 and years 7-10. It lists bipartisan support in State House and Senate.

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Cite this document

“Pro Jobs. Pro Economy. Pro Michigan. — 30+ States Have Incentive Programs.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2021-06-08-testimony-comm-2021-mifia-45809-19699dad26/, SHA-256 d67150f38182b0196de0ad96f1d761a40e8db98ff702c5222dfa06f17581508d.

Full text

                                                                   30 +States have

    INCENTIVE
                                                                   incentive programs


Pro Jobs. Pro Economy. Pro Michigan.
        Build up creative industries to
          attract new jobs & talent.



        1 Film = 60 Vendors ave.
        Including restaurant, lodging,
        construction, fashion, design and more                       Puerto Rico, U.S. Virgin Islands
                                                                   & Washington, D.C., have them too.


Sustainable, transferable
tax credit. Not a rebate
  Tax credits stay in
                                                                 The Basics
  Michigan and benefit
  Michigan companies.                                     $300K baseline for feature films
                                                                                                          *per year
                                                           Years 1-3:      $50M

 Funds are structured better                               Years 4-6:      $75M

     for local Business                                    Years 7-10: $100M
        Local rentals, local facilities
              & local workers                                  $50K for commercials,
                                                               TV series & short films
                                                                                                  *per year
                                                           Years 1-3:     $2M
                            Job-creation & talent
                            retention legislation          Years 4-6:     $4M
                                                           Years 7-10: $10M


                            $1.25 - $3.50
                                                                 Unused funds roll over into proceeding year


                            average for each $1
        Varies by state depending on incentive program
                                                          Bipartisan support in


  30%                      for instate hires and
                                                          State House
                           Made in Michigan logo          & Senate
  Incentives
 Michigan Film Industry Association | 117 E. Kalamazoo St. | Lansing, MI 48933 | www.mifia.org

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