During these unprecedented times, film tax incentives give Texans more job opportunities and boost our economy. The Texas Motion Picture Alliance has developed a PSA that showcases the Texas Moving Image Industry Incentive Program as a proven tool that spurs further economic development in Texas. You can watch the PSA here.
The Texas economy is as diverse as the people who live here. Although film is not the most recognized economic contribution to Texas, it is important to understand how film tax incentives benefit our state.
The local production of large movies, television shows, and video games can help to generate revenue for local businesses by:
- Creating jobs
- Building infrastructure
- Filling hotel rooms for visiting cast and crew
- Using fuel for trucks and generators
- Providing crew members with access to day-to-day necessities, like local restaurants for dinner, the dry cleaners for their laundry, and everyday sundry items from toothpaste to shampoo
For these reasons, it is important to ensure our content-driven talent and companies remain in Texas. In 2019 alone, the Texas Moving Image Industry Incentive Program created 3,819 local jobs, generating approximately $110 million of in-state spending through 21 projects.1 Content-driven companies have a 5-to-1 state spend – meaning that for every dollar granted, $5 dollars are spent in Texas, according to the Texas Motion Picture Alliance (TXMPA).
It is important to note that production isn’t just happening in metro areas. Cities like Corpus Christi, Del Rio, Granbury, Hillsboro, Marfa, Mineral Wells, Palestine, Texarkana and Victoria also host productions.
Film doesn’t just benefit those days we’re binging shows and movies with our families. It is also about the appreciation of art in Texas, the benefits of production in our state, and how economic diversity can be maintained if we keep funding stabilized for film tax incentives like the Texas Moving Image Industry Incentive Program.
1 https://gov.texas.gov/uploads/files/press/2020_Report_to_the_People_of_Texas.pdf
