Legislation Will Expand Successful Ohio Motion Picture Tax Credit
State Representative Mike Dovilla (R-Berea) today announced the introduction of legislation to reauthorize and increase funding for the Ohio Motion Picture Tax Credit to $20 million per year.
According to a recent report by Cleveland State University, previous projects receiving the Ohio Motion Picture Tax Credit created more than 9,000 jobs, spending $19.5 million on wages and $53.6 million on support services in our state.
"The motion picture tax incentive creates jobs and is a proven money maker for Ohio, earning 20 cents on every dollar invested by the state," said Ivan Schwarz, executive director of the Greater Cleveland Film Commission. "Renewing the motion picture tax credit is a critical step in building a strong statewide film industry."
Since its inception three years ago, all feature films shot in Ohio have taken advantage of the film tax credit including The Avengers, originally intended to be shot in Detroit. Louis D’Esposito, Co-President of Marvel Studios, credited the Ohio Motion Picture Tax Credit as one of the key reasons for this decision.
"Growing Ohio's film industry is about supporting small businesses and infrastructure, as well as attracting worthwhile projects," said Kristen Erwin, executive director of the Greater Cincinnati and Northern Kentucky Film Commission. "Film projects will go where the incentives are, and we need to keep Ohio competitive on a regional and national scale in order to continue to create jobs through our film industry."
The Ohio Motion Picture Tax Credit bill is currently awaiting referral to committee where testimony will begin in the coming weeks.
Watch the press conference here: