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Because of the introduction of film tax credits as well as incentives, the movie industry has been through considerable changes. As the dollar continues to deal with a harsh reality, competition amongst the movie industry has become tighter, as locations in other countries have become relatively more burdensome for the typical movie budget of U.S. producers, studios, and independent movie companies. Today, there are approximately forty three states that offer tax incentives and credits, allowing the movie and television industries a good break from high expenses.

Production tax credits as well as other different tax incentives are not just awarded to anybody who desires them. Indeed, qualifications and requirements for consideration are determined on a state by state basis, and several states offer a lot more generous advantages than others. As such, selecting an ideal filming location is important in taking into consideration overall production expenses, as every production firm seeks to increase its profits and reduce its avoidable expenses. Nevertheless, while incentives are identified on a state by state basis, there are multiple studios within each state that can accommodate a film maker’s needs. This is to state, just because multiple studios and production complexes exist within a state, it does not mean they will all deliver at the very same level of quality or offer the exact same amenities.

In recent years, both Atlanta, Georgia and Wilmington, North Carolina have emerged as ideal spots for filming. North Carolina has got a 25% movie tax credit on in-state purchases of merchandise and services, while Georgia has a 30% movie and TV tax credit- several of the highest movie tax credits within the country. Not only do both states provide production tax credits and incentives, but they also provide scenic and convenient locations, making it possible for a multitude of options.

One company who has a good grip on the film industry is EUE/ Screen Gems, with locations in 3 tax incentive states, New York, Georgia, and also North Carolina. Screen Gems offers premier grip and lighting services in addition to an enormous filming area, with both the Atlanta and the Wilmington studios having stages of 37,500 sq. ft. (the 3rd largest in North America). Additionally, the Wilmington studios have two gigantic water tank sound stages, which makes them a more flexible production complex, capable to accommodate the necessities of any film or television producer.

“North Carolina is a top destination for movie and tv. It turns the economic engines in our state. Our incentive is strong and competitive because we’re serious about bringing business to North Carolina. We have excellent crew here. They’re considered among the best in the business,” says Aaron Syrett, director of the North Carolina Film Office. Production tax credit is really a huge factor when it comes to selecting a state to movie in, which is why EUE/Screen Gems has taken full benefit from its ideal production locations in Wilmington, North Carolina and Atlanta, Georgia.

While the cost of movie production keeps rising, tax incentives have been approved to actually reduce production costs and also encourage the domestic economic conditions.This production tax credit is the latest anchor of movie financing equations.

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