When the Ohio Motion Picture Tax Credit passed, it was estimated that it would generate an increase in local spending by $100 million and create 500 full-time equivalent jobs. A recent study conducted by Cleveland State University estimates that since 2009, the increase in media sector activity has resulted in:
- $400 million in economic impact
- Creation of 1,729 full-time equivalent (FTE) jobs
- $2.01 return on investment (for every $1.00 spent by the state, $2.01 went back into Ohio’s economy)
The encouraging results outlined in the most recent economic impact study illustrate the benefits of GCFC’s efforts to strengthen Cleveland’s growing media sector. Over 300 productions have filmed in Ohio since 2007, including commercials, documentaries, independent and studio feature films, music videos, public service announcements, photo shoots, television shows, video games, and web series. As a result, local businesses have enjoyed significant increases in revenue from the media industry. Retail shops, hotels, contractors, real estate agents and restaurants and other food suppliers, just to name a few, have all benefitted from the increased business during production.
GCFC continues to push to take Ohio’s media industry to the next level by leading efforts to increase the incentive and provide vital industry infrastructure that will allow the state to attract larger productions. With these in place, the industry in Ohio will generate thousands more jobs and hundreds of millions of dollars more in economic impact.