Presentation on theme: "Michigan the Hollywood of the Midwest? Sue White, The Saginaw News."— Presentation transcript:
Michigan the Hollywood of the Midwest? Sue White, The Saginaw News
Incentives for Film Production The State of Michigan is giving filmmakers a 40 to 42 percent tax break if they choose to film and produce their films in the state of Michigan. No other State offers that kind of incentive. This legislation was passed on April 8, as an economic stimulus package.
Who is benefited? Local diners, restaurants, hotels, and bowling alleys where film crews spend their money and film their scenes. Local Residents getting paid hourly wage for work as extra, gas paid, and their chance to launch a film career. The Michigan Film Office – a group of 103 communities which qualify for the 42 percent tax break incentive. Includes: Saginaw, St. Louis, Vassar, Alma, Midland, Mount Pleasant, Coleman, Bay City, Owosso and Buena Vista Township Other Communities around the State offering a 40 percent tax incentive to the film industry.
What are the benefits to Michigan Communities? Projected Revenue of 373 million dollars from 60 movies, which have been approved to shoot in Michigan. Initial and Residual income from the Films. Jobs created to service the new influx of tourism. Positions of film extras open to locals.
How do residents feel? Tim Ader (Thomas Township), looking at the renovations made to Flint’s Capitol Theatre and other expenses; “Is it on the taxpayers’ backs?” Tony Wenson of the Michigan Film Office “…we can see the economic impact this could have on tourism alone. People will see points of interest and come to Michigan to see the real thing.”
Cost of Production # of Films State subsidy D is demand to produce in Michigan before subsidy. D² is demand after the subsidy. Subsidy allows more expensive films to be produced in MI, such as Barrymore’ “Whip It” – which brings more money to the state and communities. D D²D²