New law boost state’s film-making incentives
JACKSON — Mississippi’s film industry recently received a major boost in the form of new legislation that increases the state’s cash rebate incentive program.
HB 1161, which was introduced by Rep. Diane Peranich, who chairs the House Tourism Committee, was signed by Gov. Haley Barbour last month. Effective immediately, it increases the rebate by 5 percent and expands the definitions of qualified distribution and production to include new technology.
The legislation increases the current rebate to 25 percent for qualified local spend and non-resident cast and crew payroll and to 30 percent for Mississippi resident cast and crew payroll. The per project rebate cap remains at $8 million (an approximate $30 million local spend) and the annual cap remains at $20 million.
The expanded program added streaming video and Internet delivery as qualified distribution. New technology areas, such as animation, 3D applications, video game cinematics, visual effects and motion capture within the fields of feature film, television, commercials and games, were added as qualified production.
In addition to the new incentive program, Mississippi Film Studios at Canton is set to open in this month. As the state’s first purpose-built production facility, the complex sits on 31 secure acres with a massive 36,000-square foot stage, which has 40-foot clearance to the ceiling. The facility will be another valuable resource for film and television production businesses.
During fiscal year 2010, the Mississippi Film Office coordinated the activities of more than a dozen productions, including films, documentaries, music videos, short films and commercials.
Source: Mississippi Development Authority
To sign up for Mississippi Business Daily Updates, click here.
One Response to “New law boost state’s film-making incentives”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Judge intends to rule on McDaniel's challenge before general election
- Oxford’s FNC getting new headquarters
- QUIRKY? NO, JERKY — Whatever your craving, Beef Jerky Outlets likely has the flavor among 200+ choices
- (UPDATE) I-20 partially closed as vehicle carrying hazardous materials burns
- Coast family wins $644K in tideland lawsuit against state
- Officials set hunting dates for birds; expands dove season by 20 days
- State’s MAGIC accounting system works, albeit with glitches
- Corps official: River needs larger ports, locks and dams
- C Spire, UM installing Wi-Fi network at Vaught-Hemingway Stadium