Ciresi and Tomlinson highlight budget increase for film production tax credit
HARRISBURG, July 13 – The co-chairs of the bipartisan Film Industry Caucus, state Reps. Joe Ciresi, D-Montgomery, and K.C. Tomlinson, R-Bucks, highlighted the successful increase of the cap for the film production tax credit to $100 million in the 2022-23 budget.
“Last year, Rep. Tomlinson and I introduced HB 1432 to expand the film production tax credit’s cap because Pennsylvania was losing out on film productions to other states due to our program’s limitations,” Ciresi said “Thanks to our legislative push, the budget increased the cap from $70 million to $100 million, making Pennsylvania a more attractive place for television productions in which to film. Fostering the film industry in Pennsylvania will have a tremendous positive economic impact on the commonwealth through job creation and by generating economic activity in host communities, bringing local and state benefits.”
According to the Pennsylvania Department of Community and Economic Development’s 2019-20 Film Production Tax Credit Program Report, since the program’s inception in 2007 through the end of FY 2019-20, approximately 860 applicants have applied to the program and 509 productions have been approved/awarded tax credits. These film productions have directly injected nearly $3.3 billion into the state’s economy; generated an estimated $5.2 billion in total economic activity and $785 million in total state and local taxes; and supported an estimated 30,650 full-time equivalent jobs.
Projects across the state have benefited from the Film Production Tax Credit, including “Mare of Easttown” (Philadelphia, Chester and Delaware), “Creed” (Philadelphia, Delaware),
“Concussion” (Allegheny), “Southpaw” (Indiana, Washington, Allegheny), “Unstoppable” (Allegheny, Blair, Beaver, Cameron, Centre, McKean), “Home” (Lancaster), and “I Am Not Okay With This” (Fayette).
“This tax credit is an economic engine that fuels job growth throughout the commonwealth,” Tomlinson said. “Our state is a magnet for film production due to our history and natural beauty. But we must still compete with other states. Increasing the Film Industry Incentive will give us an advantage and encourage more projects to come to our state, and that will have a larger economic impact on the commonwealth.”
For more information on the Film Industry Incentive, go here: Film Tax Credit Program - PA Department of Community & Economic Development.