Savannah Economic Development Authority approves rebate incentive for production companies
SAVANNAH, Ga. (WTOC) – The Savannah Economic Development Authority decided to keep a program going that they hope will make Savannah the home to even more TV and film productions.
Georgia already has a film tax credit in place that gives the Peach State a leg up on attracting TV and film productions over other states that don’t.
The rebate incentive approved unanimously Friday morning is in addition to that state tax credit. That’s hundreds of thousands of dollars SEDA allocated to help sweeten the deal for production companies that will be extended through to next year, which helps offset additional costs to film companies having to bring in their own crews and equipment.
For 2021, the potential rebate to date is just over $770,000
The return on that investment for the community is massive, with that return soaring to almost 11,000 percent.
Beth Nelson, executive director for the Savannah Regional Film Commission, explained how important these incentives are, at least for now.
“Well, productions are driven by incentives, and that gives us that extra leverage. And we have seen the results over the last six years. We have had our incentive in place for six years now, and every year we have had more and more productions and more and more economic impact in our community,” Nelson said.
Nelson says the vote Friday will allow SEDA to keep doing that. She adds hopefully, with the future additions of new production studios, companies will want to come without having to be incentivized.
By: Sean Evans