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Entertainment Industry Investment Act Georgia Film, Music & Digital Entertainment Office

Entertainment Industry Investment Act Georgia Film, Music & Digital Entertainment Office. April, 2010. How It All Got Started…. Films have been produced in Georgia since 1912 and in every decade since then The Cotton King – 1915 Over The Top – 1918

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Entertainment Industry Investment Act Georgia Film, Music & Digital Entertainment Office

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  1. Entertainment Industry Investment ActGeorgia Film, Music & Digital Entertainment Office April, 2010

  2. How It All Got Started… • Films have been produced in Georgia since 1912 and in every decade since then • The Cotton King – 1915 Over The Top – 1918 • Glorious Adventure – 1918 Bab’s Candidate – 1920 • The New Governor – 1915 A Circus Romance – 1916 • The Plunderer – 1915 The Shooting of Dan McGrew - 1915 • The Oval Diamond – 1916 Under Southern Skies - 1915

  3. The Modern Era • A little movie called Deliverance came to Georgia in 1972 and began the modern era of filmmaking in the state • Governor Jimmy Carter created the Georgia Film Commission in 1973 • Hundreds of feature films, indie features, TV movies, TV specials, TV series & pilot episodes, and feature length documentaries have been produced in Georgia since 1972, plus thousands of short films, commercials & music videos • We will celebrate our Centennial of Filmmaking in Georgia in 2012

  4. Sample MajorHistoric Productions • Driving Miss Daisy, Fried Green Tomatoes • Forrest Gump, The Longest Yard, The Big Chill • Midnight in the Garden of Good and Evil • In the Heat of the Night, My Cousin Vinny • The Slugger’s Wife, Sharky’s Machine, • Smokey and the Bandit, The General’s Daughter • Glory, Remember the Titans, Warm Springs • The Fighting Temptations, The Legend of Bagger Vance, Sweet Home Alabama

  5. Recent Production Activity in Georgia • $647 million dollars spent in state in FY 2008/2009 • CY 2009 delivered investment of $770 million • 28 vendors and supply chain companies have located in Georgia or expanded their existing operations • Over 15 new film/TV productions are on the ground or slated for Georgia in FY 2010/2011, with many more to come. • The Miley Cyrus film, The Last Song, was shot in Savannah in 2009 and utilized 12,000 hotel room nights. The movie opened nationwide on March 31st. Another Georgia made film, entitled The Joneses, opened on April 16th.

  6. Recent Films Made in Georgia • The Blind Side, w/Sandra Bullock, Kathy Bates, Tim McGraw • Killers, w/ Ashton Kutcher, Katherine Heigl, Tom Selleck • Zombieland, starring Woody Harrelson & Bill Murray • Hall Pass, starring Owen Wilson & Jenna Fischer • Get Low, starring Robert DuVall, Sissy Spacek, Bill Murray • The Greening of Whitney Brown, starring Brooke Shields, Aidan Quinn, and Kris Kristofferson • The Conspirator, directed by Robert Redford, and starring Kevin Kline and Robin Wright Penn • Life As We Know It, starring Katherine Heigl & Josh Lucas • Due Date, starring Robert Downey, Jr. & Jamie Foxx

  7. Recent Television Productions Made in Georgia • Vampire Diaries, number one show on the CW Network • Drop Dead Diva, number one show on the Lifetime Network • Real Housewives of Atlanta, the Bravo Network • Paula Deen’s Home Cookin’, The Food Network • Good Eats, The Food Network • House ofPayne & Meet The Browns, Tyler Perry Studios • The Mo’Nique Show, BET Productions • The Chilli Project, Freemantle Media • The Wronged Man, Sony Pictures/Lifetime TV • 187 Detroit (Pilot Episode), ABC Television • Franklin & Bash (Pilot Episode), TBS

  8. Estimated Number of Georgians Employed in Entertainment Industry Segments • Television 3,300 • Film 5,800 • Music 9,500 • Video Games 1,600 • Post Production 1,300 • Support, Supply & Distribution 3,500 _____ Estimated Total: 25,000

  9. JOB CREATION • Georgia’s Entertainment Industry production workforce has grown by over 2,000 workers since 2005. • Numerous production training classes and other workforce development programs have been successful in developing additional qualified workers. • Key industry partners have helped make this possible.

  10. Film & Television

  11. Entertainment Industry Production in FY 2009 • (14) Feature Films in Georgia • (12) Independent Feature Films • (93) Major Television Productions • (251) Television Commercials • (37) Music Videos • (41) Video Games

  12. Entertainment Investment • CY 2009 - $770,200,000 • CY 2008 - $294,700,000 • CY 2007 - $262,100,000 • CY 2006 - $266,000,000 • CY 2005 - $155,000,000 • CY 2004 - $ 70,000,000

  13. Economic Impact • CY 2009 – $1,374,807,000 • CY 2008 – $ 526,039,500 • CY 2007 – $ 467,848,500 • CY 2006 – $ 474,810,000 • CY 2005 – $ 276,675,000 • CY 2004 – $ 124,950,000 Impact

  14. Highlights of the Georgia Entertainment Industry Investment Act • 20% flat transferable tax credit on all qualified Georgia production expenses. • Additional 10% flat transferable tax credit, for a total of 30%, if a Georgia promotional logo is placed in the titles or credits or within the content as a product placement. • $500K minimum spend to qualify for the tax credits. Multiple projects may be aggregated to meet this qualifier. • Commercials are limited to a 20% tax credit. • Customers must use a Georgia headquartered travel agencies and insurance companies in order for those expenses to qualify.

  15. Highlights Continued • Legislation has no sunset clause, no cap on spending, no cap on the number of tax credits that may be issued. • Projects must be fully funded and have multi-market distribution outside the state of Georgia to qualify. • Tax credits may be transferred in part or in whole to any Georgia taxpayer or taxpayers. Five year carry forward. • Tax credits may be assigned to subsidiary entities and documented on the original tax return. • Must use a Georgia vendor to bring in equipment or other items not available in state.

  16. Georgia’s Music Industry is # 4 in the U.S.

  17. Georgia Music Industry – 4th in the U.S. • Georgia Music Industry revenue was $1.1 billion in 2008 • An increase of $300M since 2005, growth rate $100M/yr • Economic impact in 2008 was $2.1 billion • 9,500 employees in the music industry in Georgia • 1,000 music industry businesses in the state • Over 100 recording studios • Georgia music artists win GRAMMY awards each year

  18. Video Game Development

  19. Video Game Development Statistics • 60 – 70 video game companies in Georgia • 1,600 Georgians employed in industry • 15 Georgia colleges and universities offering video game courses or full curriculums • Georgia video game industry spend of $265M since 2005, economic impact $473M • Georgia has most competitive incentives for video games in the U.S.

  20. Georgia’sCompetitiveness • Direct flights on Delta to and from almost anywhere in U.S. and the world • Georgia has a year-round mild climate, four distinct seasons, and no hurricanes • Georgia’s variety of locations is the best and most diverse in the nation, from mountains to coastline, large metropolitan cities, historic towns, rural areas, numerous lakes, rivers, forests, swamps and other unique settings

  21. Georgia’s Competitiveness • Large, experienced entertainment workforce and support companies • Significant infrastructure, most wired city in U.S. • Strong relationships with Hollywood Studios, film/TV production companies, music industry, and video game companies • Many repeat customers and steady stream of prospects and projects

  22. Certification Process • Productions must be approved and certified by the Georgia Film, Music & Digital Entertainment Office • Submit both the 20% base tax credit application and the 10% GEP logo uplift application to request project certification • All applications will be reviewed and certified usually within 3 – 5 days. • Projects that do not qualify will not be approved or certified.

  23. Certification Continued • Once the production is certified, the production company will receive a certification letter from the GDECD to be attached to its Georgia income tax return • The Georgia Dept. of Revenue’s FORM IT-FC must be attached to your tax return to claim the tax credit • The credit will not be made available until after you file your tax return, although you may transfer the credit at any time, once the credits have been earned

  24. Calculating Your Savings • To calculate the value of your base tax credit, simply multiply your GA spend by .20 • Ex. $20,000,000 X .20 = $4,000,000 savings • If you qualify for the GEP uplift, multiply by .30 • Ex. $20,000,000 X .30 = $6,000,000 savings

  25. Georgia’s Entertainment Industries THANK YOU FOR SUPPORTING ONE OF THE FASTEST GROWING, REVENUE GENERATING AND JOB CREATING INDUSTRIES IN THE STATE. MAKE SURE YOU WATCH A GEORGIA MADE MOVIE OR TV SERIES, OR PLAY A GEORGIA MADE VIDEO GAME TODAY!

  26. For More Information Bill Thompson Deputy Commissioner Georgia Department of Economic Development Georgia Film, Music & Digital Entertainment Division 75 Fifth Street, NW Suite 1200 Atlanta, Georgia 30308 404-962-4051 bthompson@georgia.org

  27. Georgia Tourism

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