Ohio Legislature passes increase to Ohio Motion Picture Tax Credit

On Friday, June 30, 2023, Ohio Legislators voted in favor of an increase to the Ohio Motion Picture Tax Credit.

The increase raises the current annual $40 million cap to $50 million, with $5 million designated for theatrical production and $45 million designated for motion picture production for the 2023-2024 fiscal year (which commences July 1, 2023). For the 2024-2025 fiscal year, in addition to the $50 million incentive, Ohio adds a $25 million infrastructure tax incentive that will also be available to reallocate towards production incentive at the discretion of the Ohio Department of Economic Development.