In an effort to increase incentives for entertainment developers to conduct business in Georgia, The Weekly reports that Georgia Governor Sonny Perdue recently signed into law the 2008 Entertainment Industry Investment Act. The bill creates a twenty percent tax credit for qualified movie, TV, commercial, video game, and music video productions created in the state of Georgia. Qualified productions that feature an animated promotional logo for the state are then eligible for an additional ten percent tax credit.
Government officials hope the new bill will create jobs and “jump start the Georgia film industry.”
The new bill replaces the 2005 Entertainment Industry Investment Act, which used similar incentives to introduce $475 million to Georgia’s economy from the television and video game industry. Previously, the television and video game industry were responsible for only $124 million of Georgia’s economy.
While numerous states provide tax incentives for in-state entertainment production, Georgia’s law is one of the few that supports the $17.9 billion video game industry.
