Austin mulls film incentive program
Austin's city staff has proposed a city-run cash grant incentives program for digital media intended to help close the gap between Texas and other states' film and television-focused incentive programs.
Robert Grattan
Staff Writer-
Austin Business Journal
Austin officials have proposed a program that could subsidize a small portion of filmmakers' payrolls, and city leaders will likely get a clear look at it May 1.
The program is intended to help Austin — and Texas — lure more productions for television shows, movies and even video games. Louisiana and New Mexico, in many circles, have a reputation for being more film-friendly. Under the proposal, the city would offer eligible productions a cash grant of up to 0.75 percent of local wages paid. The program would add a small boost to the state-run Texas Moving Image Industry Incentive Program, which offers cash grants of up to 22.5 percent on eligible in-state spending. Productions would need to qualify for the state's program before becoming eligible for the city's incentives, as well as meet a host of city-specific requirements.
Film, television and creative media incentives have been a heightened focus of Austin's economic development strategy since a study by TXP Inc. found that the film industry added more than $282 million in economic output to the Austin area in 2010. Austin has benefited from a solid national brand as well as a filming labor pool that makes it easy, and cheaper to hire. However, focus groups in the study pointed out that Austin was losing shoots to other states that had cut producers' bottom line through aggressive incentives programs implemented in the past half-decade.
http://www.bizjournals.com/austin/news/ ... l?page=all
Austin's city staff has proposed a city-run cash grant incentives program for digital media intended to help close the gap between Texas and other states' film and television-focused incentive programs.
Robert Grattan
Staff Writer-
Austin Business Journal
Austin officials have proposed a program that could subsidize a small portion of filmmakers' payrolls, and city leaders will likely get a clear look at it May 1.
The program is intended to help Austin — and Texas — lure more productions for television shows, movies and even video games. Louisiana and New Mexico, in many circles, have a reputation for being more film-friendly. Under the proposal, the city would offer eligible productions a cash grant of up to 0.75 percent of local wages paid. The program would add a small boost to the state-run Texas Moving Image Industry Incentive Program, which offers cash grants of up to 22.5 percent on eligible in-state spending. Productions would need to qualify for the state's program before becoming eligible for the city's incentives, as well as meet a host of city-specific requirements.
Film, television and creative media incentives have been a heightened focus of Austin's economic development strategy since a study by TXP Inc. found that the film industry added more than $282 million in economic output to the Austin area in 2010. Austin has benefited from a solid national brand as well as a filming labor pool that makes it easy, and cheaper to hire. However, focus groups in the study pointed out that Austin was losing shoots to other states that had cut producers' bottom line through aggressive incentives programs implemented in the past half-decade.
http://www.bizjournals.com/austin/news/ ... l?page=all
