The Film & TV Production Tax Incentive Works for MA

.
The Film & TV Production Tax Incentive Works for Massachusetts

The film and television production incentive is working for Massachusetts, it not only is creating jobs, it’s growing an industry. Eliminating the incentive will drive jobs created by the production of motion pictures and television shows to competing states, destroying a growing local industry while costing thousands of jobs with absolutely no benefit to the state budget.
.
Because of the success of this program, local entrepreneurs are building businesses that are part of the state’s growing creative economy: film studios, post production companies, equipment rental businesses, and many others have created good paying jobs that are the result of new spending by film and television production companies.
.

Statewide Economic Benefits

•   Film and television productions have purchased goods and services from thousands of local businesses in over 225 communities, nearly 70% of all cities and towns across MA.

•   Money generated by the film industry in Massachusetts provides a valuable boost to thousands of local businesses, including restaurants, caterers, hardware stores, lumber yards, printing companies, cleaning companies, hotels, and countless others.

  The Department of Revenue says that 96% of the film industry spending measured in its 2012 report would not have happened without the FTC.

.
Job Creation

•   In 2012 alone, more than 1,900 good-paying jobs were created in the Massachusetts film and television industry as a result of the incentive program, with an average salary of over $64,000 a year.

•   From 2006 to 2012 nearly 10,000 jobs were created with 70% going to MA residents.

•   The production incentive is building exactly the type of “creative economy” industry that Massachusetts needs to succeed in the 21st Century. Dozens of post production and visual effects companies are expanding and contributing to Massachusetts’ growing tech sector because of the presence of the film industry here.

.
Impact on Higher Education

Since the beginning of the FTC, Film, Television, and media programs at colleges and universities in the Commonwealth have expanded. Graduating students no longer look outside the state for jobs but can now stay in Massachusetts to work at production companies, post production facilities, and visual effects companies.

.
Economic Impact: Three Examples

•   Paramount’s Shutter Island spent nearly $250,000 per day in MA putting a total of $22 Million in the MA economy including $11.4 Million on local vendors and $2.6 Million on hotels.

•   Universal’s R.I.P.D spent more than $34 Million on goods, services, and rentals with Massachusetts business including nearly $1 Million in lumber alone for set construction.

•   Sony’s Grown Ups 2 paid the town of Swampscott $248,000 to lease several properties during the course of filming including $40,000 for a day of shooting at the town’s middle school. That same production donated over $200,000 worth of building materials from the sets to be used for homes of low and moderate-income people in Boston and beyond.

.
.
.
.
.

Filed Under: Advocacy & Public PolicyNews

RSSComments (0)

Trackback URL

Leave a Reply