We have talked plenty about the need for Florida to create or attract new industries to create jobs. This is exactly what we have here with the film industry. There are proposals before the House that would provide $1 billion dollars in tax credits to film and television production, and $300 million dollars in tax incentives, respectively. If passed, this money would be paid over a 6 year period. You have to applaud these efforts, assuming that the proposals pass, and there is a very good chance they will. There is a history of giving to attract this industry, $296 million in 2010 when the efforts were launched. However, it was revealed that this could be too little too late as other neighboring states, Georgia in particular, were doing more in this area and their success would make it more difficult to succeed. It was mentioned that 11 “studio, bricks and mortar” projects were under construction in Georgia as a direct result of the state’s efforts to attract the film industry. It was astutely mentioned that it is really in Florida’s best interests to step up its efforts here as it relies so much on tourism. Any films or TV shows that are done here would be free advertising and help attract visitors to the state. Let’s see what happens here since it would seem that this could be a great new industry that could grow here under the right circumstances. Hopefully the new efforts will be enough to create something that can be built upon. If Georgia can do it why can’t Florida?
Filmmakers could get big tax breaks
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
Phone: 561-756-1665
Fax: 561-470-0707
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