Written By Gene Maddaus Via Variety.com
Georgia doled out a record $1.2 billion in film and TV tax credits last year, far surpassing the incentives offered by any other state.
The figure is 40% higher than the state’s previous record, $860 million, which was set in 2019, as the generous credit continues to fuel the exponential growth of the industry. It also represents a significant rebound from 2020, when credits dropped to $649 million due to the pandemic.
The next two largest state tax incentives are in New York and California, where the programs are each capped at $420 million a year. Both states have budgets that are about 10 times the size of Georgia’s state budget. Georgia’s investment in the entertainment industry represents about 4.5% of its state budget, or roughly what the state spends every year to address mental health, substance abuse, and developmental disabilities.
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