With the release of the Georgia Tech study showing that the film industry’s direct spend in Georgia is significantly higher than previously reported, the Georgia Screen Entertainment Coalition said the findings prove the industry’s investment and job creation is paying off for taxpayers.
“Georgia Tech’s study puts to rest any doubts about the tremendous economic impact that film industry has delivered for the state,” said Kelsey Moore, executive director of the coalition. “The researchers dug into the numbers to see that the industry’s spending was far greater than previously reported and actually hit $4.2 billion in the 2017 budget year. We can safely assume that the direct spending – which goes to local businesses large and small – has grown even more in the last two years.
“The bottom line is, this report from an esteemed academic institution proves that Georgia’s film tax credit is working as intended and that it’s benefiting Georgians and local businesses even more than we thought. Economists can quibble about what kind of multiplier to use to judge the film industry’s economic impact, but hard economic data shows that the industry is multiplying its jobs and investment in the state. Meanwhile, the Georgia Film Academy and other higher education institutions will continue to train a homegrown workforce ready to move into high-paying careers in this booming Georgia industry.”