Indiana is missing out on valuable income taxes associated with the film industry. Every state around us is aggressively pursuing these dollars but Indiana is not. The facts demonstrate the production of significant film and media projects in Indiana can generate work and stimulate our economy.
A tax incentive will strengthen our existing production companies by providing a more sustainable economic base. It will also attract outside companies to film within the state, using in-state labor and purchase of goods. It has been reported in other states that as these production companies generate locally-based spending, and every $1 credited can represent compound economic activity for our state.
Instituting a tax incentive also provides an incentive to Indiana corporations to keep their marketing dollars here –supporting local production of commercials and providing income for our film and media professionals.
Tax incentives are only one part of the long term success and sustainability of a vibrant and healthy film and media industry in Indiana. Other key factors include an ongoing commitment to streamlining the process of permitting productions, providing convenient access to databases of locations, talent, and professional production crew, and active marketing of the value that Indiana has to offer film and media productions.