Tampa Film: State of the Industry

There has been a lot of progress in the State of Florida in the last few years on bringing the awareness back of the importance of the film industry in our state.
In 2006, Polycreative hosted the first industry roundtable in Tampa, where we discussed not only the importance of adding the Digital Media queue, but also how to bring down the qualifying expenditure down from $300,000 - a lot of small production houses don't see budgets that big, and therefore could never apply to receive any incentives.

This year, we hit a milestone! Not only is the qualifying expenditure down to $100,000, but we're not talking about a $5 million incentive program anymore (which was easily gobbled up by a handful of projects). We're talking about $242 million dollar program!



Effective July 1, 2010:

2010/2011 Florida Film & Entertainment Industry Financial Incentive Program

Overview:

* $242 million in transferable tax credits over 5 years
* $53.5 million transferable tax credits authorized for the 2010/2011 fiscal year
* 20% - 30% transferable tax credit

- 20% Base Percentage
- 5% Off Season Bonus
- 5% Family Friendly Bonus (G Rated programming)

We are thrilled that this program was passed with no major opposition in either the State Senate or the House of Representatives.

Happy Filming!!!

For complete information on the incentive program, application submission, qualifying etc, please visit the Governor's Office of Film & Entertainment website: http://filminflorida.com/ifi/incentives.asp