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Senate Co-Sponsorship Memoranda
Senate of Pennsylvania
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | June 12, 2023 12:25 PM |
|---|---|
| From: | Senator Devlin J. Robinson |
| To: | All Senate members |
| Subject: | Film Tax Incentive |
| Soon, I will introduce legislation to encourage and attract more long-term television series and motion picture projects to our Commonwealth by augmenting the current Film and Tax Incentive Program. This legislation will include some provisions from last session’s SB906 that were not included in the final approved Tax Code language. The rapid growth of subscription streaming services is causing production companies to invest historic amounts of money in producing content in locations around the world, specifically in jurisdictions that offer a wide variety of production incentives. These investments make the enhancement of our incentives program even more critical. The Pittsburgh Film Office estimates that the Commonwealth has missed out on over a billion dollars of investment from production companies that sought to film in Pennsylvania, but were not able to access the current Film Incentive Program, thus making filming in the Commonwealth simply too expensive. Under this proposal, production companies will be required to make multi-year commitments in the Commonwealth, which will provide stable, good paying jobs for PA residents in an industry whose average annualized wage is approximately $80,000. Additionally, over the life of the Commonwealth’s Film and Tax Incentive Program, production companies have directly injected over $3.3B into our economy, generating a steady stream of revenue that is directed toward local, small businesses, including transportation, insurance, technology, food service, hotels, and communications companies. This multi-production proposal is important because television productions must plan for the continuation of series years in advance, and, therefore, require program certainty and stability. Similarly, feature films greenlight their productions up to two years in advance. This proposal will immediately increase Pennsylvania’s profile for producers globally, further expanding on the 30,000+ jobs generated by the industry, and supercharging our economy through a sector that has already generated well over $5B in total economic output. Please join me in sponsoring this important legislation. |
Memo Updated: June 12, 2023 12:26 PM