The Impact of a New Industry

If you’ve followed us at all over the last few years, chances are you’ve seen these numbers before: $400 million, 1,700 and $2.01.

These numbers come from an economic impact study GCFC commissioned from Cleveland State University on the impact of the Ohio Motion Picture Tax Credit, for which Ivan Schwarz and GCFC fought to get passed in 2009.

The report found that the Tax Credit had resulted in over $400 million in economic impact for the state, generated over 1,700 full-time equivalent jobs and gave a return on investment of $2.01 (for every dollar spent by the Tax Credit, $2.01 went back into Ohio’s economy).

To sample the impact that just one production can have, when “The Fate of The Furious” rolled into town last year, it engaged 200 Ohio businesses, created 380 direct jobs and used 9,000 hotel room nights.

We think these numbers are a great example of the enormous impact a media production industry can have on its community, but we haven’t even really scratched the surface.

In 2008, the state of Georgia began its production incentive program and has since grown into Hollywood South. In the last fiscal year, their industry generated $9.5 billion (that’s with a “b”) in economic impact from 320 film and television productions. According to the Motion Picture Association of America, the film and television industry is responsible for more than 85,300 jobs and nearly $4.2 billion in total wages in Georgia, including indirect jobs and wages. Over 25,700 people are directly employed by the production industry in Georgia, and it hosts more than 2,700 industry-related businesses.

So, what do we need to do to get there?

Enhance Ohio’s Incentives – Georgia operates under an uncapped incentive, while Ohio’s is capped annually at $40 million. Due to our increased notoriety as a production destination, our state runs out of incentive dollars each year within the first few months of availability. By increasing our capacity, we can attract more and larger productions that will lead to…

Industry Infrastructure – If Northeast Ohio had at least one sound stage, there would be year-round filming in the area and we wouldn’t miss out on blockbuster productions like the Russo Brothers’ “Avengers: Infinity War.” Increasing the incentive will lead to investments in basic industry infrastructure like sound stages, production offices, post-production houses, and the like.

Grow Our Crew Base – Our crew base is growing, and is filled with many talented local professionals. However, a growing industry will attract even more talented professionals to the area and keep us from losing our own locally grown talent.

We’re working every day to ensure that this industry grows, becomes self-sustainable, supports thousands of jobs in Northeast Ohio and generates hundreds of millions more dollars in economic impact

Check out our GET INVOLVED tab at the top of the screen to find out more about how you can help be a part of our mission to grow the media production industry in Northeast Ohio.