TAX INCENTIVE GOALS

OUR MISSION:

GCFC drives economic development to Northeast Ohio by ADVOCATING for the Ohio Motion Picture Tax Credit, ATTRACTING feature films, television shows, web series, commercials, documentaries, music videos, public service announcements, photo shoots, and video games to choose this region as their base of operations, EDUCATING to develop the local workforce to fill the thousands of jobs created by productions who spend millions at Ohio vendors.

CURRENT OHIO TAX INCENTIVE:

  • 30% Refundable incentive (acts like a rebate)
  • $40 Million annual cap (raised from $20 Million in 2016)
  • 2 – 45 Day application windows (projects that apply outside of the windows are turned away to spend their money in other states)

IMPACT SINCE 2009:

  • $1.2 Billion economic output
  • 6,192 full-time equivalent jobs created

GOALS:

  • Increase the cap to an uncapped, transferable credit
  • Eliminate the application windows
  • Infrastructure incentive

COMPARISON:

  • Georgia: Uncapped transferable 20-30% incentive
    2021: $4 Billion in direct spending by productions
    Lost Revenue & Jobs: None
  • Ohio
    2021: $190.6 Million in direct spending by productions
    Lost Revenue & Jobs: $224.5 Million of combined production budget applied for the incentive, but was turned away to other states (Massachusetts, Montana, New Jersey, Pennsylvania, Louisiana, Georgia)

OTHER STATES:

  • Massachusetts: Uncapped transferable/refundable 25% incentive – $50K minimum
  • New York: $420 Million refundable 25-30% below the line incentive-$250K minimum
  • California: $330 Million refundable 20-30% incentive-$1 million minimum
  • Louisiana: $150 Million refundable 30-45% incentive-$300K minimum
  • New Mexico: $100 Million transferable 25-35% incentive-no minimum
  • Kentucky: $75 Million refundable 30-35% incentive-$250K minimum
  • Pennsylvania: $70 Million transferable 25-30% incentive-$100K minimum

Transferable means the production has the ability to sell the credit to a 3rd party. Refundable means the credit works like a rebate.

2021 LOST JOBS & LOST REVENUE: $224,471,237

2/3 of all productions that apply for the tax incentive are turned away and have taken their business to other states (Massachusetts, Montana, New Jersey, Pennsylvania, Louisiana, and Georgia)

2021 GAINED REVENUE: $106.6 MILLION

Production spend in Northeast Ohio in 2021