Central Ohio is set to benefit significantly from a recent announcement of state tax credits, totaling nearly $3.7 million, aimed at supporting local film and television productions. This funding is part of a broader initiative by the Ohio Motion Picture Tax Credit Program, which provides financial incentives to bolster the state’s entertainment industry.
Overview of the Tax Credit Program
Governor Mike DeWine and Ohio Department of Development Director Lydia Mihalik revealed on Monday that the Ohio Motion Picture Tax Credit Program will allocate a substantial $36.7 million to 17 projects across the state. This includes feature films, television series, mini-series, and theatrical productions. The program offers a tax credit of up to 30% for in-state cast and crew wages and other qualified production expenses.
Since its inception in 2016, the tax credit program has supported a total of 138 projects, underscoring its role in fostering Ohio’s growing reputation as a prime location for film and television production.
Allocation of the Recent Credits
The recent round of tax credits includes substantial funding for three key projects in Central Ohio:
- Columbus Quartet: A Columbus-based TV mini-series, which will receive $3.4 million. This project is expected to highlight the region’s unique local flavor and appeal.
- My Mother the Madam: A feature film from northeast Ohio, receiving $101,448 in tax credits.
- The Bulldogs: Another feature film out of northeast Ohio, awarded $170,419 in credits.
These funds are anticipated to boost local economies, create jobs, and showcase Ohio’s vibrant communities through these productions.
Economic Impact
The 17 projects funded by this round of tax credits are projected to generate approximately 500 jobs. They are expected to bring nearly $122 million in eligible production expenditures and approximately $150 million in total production expenses. This significant economic impact highlights the value of the tax credit program in stimulating local economies and supporting job creation.
Statements from Officials
Governor Mike DeWine expressed enthusiasm about the state’s growing role in the entertainment industry, stating, “Ohio is an ideal location for entertainment production; we offer big city backdrops, small town appeal, and everything in between. We’re happy to welcome these productions – and the economic impact they’ll bring – to Ohio.”
Director Lydia Mihalik emphasized the program’s benefits, noting that the tax credits not only support the production industry but also contribute to the broader economy by showcasing Ohio’s diverse locales.
Fallback Studios’ Expansion Plans
In related news, Fallback Studios, a local film production company, has announced ambitious plans to develop a new facility in Dublin, Ohio. The proposed 250,000-square-foot “Hollywood-caliber” studio will feature sound stages and various amenities designed to support the production of movies, TV shows, and commercials. This new facility aims to attract more film projects to Central Ohio and strengthen the region’s position in the entertainment industry.
Additionally, Fallback Studios has launched an investment fund to support both the development of the studio infrastructure and the projects produced there. This initiative is expected to further boost Ohio’s film production capabilities and create additional opportunities for local talent.
Broader Implications for Ohio’s Entertainment Industry
The infusion of tax credits and the expansion of local facilities like Fallback Studios signify a growing investment in Ohio’s entertainment sector. The state’s strategic positioning, combined with these financial incentives, makes it an increasingly attractive destination for film and television productions.
The recent announcements and developments reflect Ohio’s commitment to nurturing its entertainment industry, enhancing its infrastructure, and promoting local economic growth. These efforts not only support current projects but also lay the groundwork for future opportunities, positioning Ohio as a key player in the national film and television landscape.
Conclusion
The allocation of nearly $3.7 million in state tax credits to Central Ohio film productions marks a significant boost for the local entertainment industry. With projects like “Columbus Quartet,” “My Mother the Madam,” and “The Bulldogs” receiving substantial funding, the tax credit program continues to demonstrate its effectiveness in supporting and growing Ohio’s film and television sector. The development of Fallback Studios further highlights the state’s dedication to becoming a major hub for entertainment production. These advancements underscore Ohio’s potential to attract and retain high-profile projects, ultimately benefiting the local economy and showcasing the state’s diverse and dynamic communities.