Film Industry Predicts Lost Revenue Opportunities Since 2016
Film Florida predicts that Florida has missed out on $1.5 billion in the film, television, and media business since the Florida Entertainment Industry Financial Incentive Program expired in 2016. Film Florida produced a “Lost Business Map”to showcase all the missed opportunity projects.
New Film Legislation in 2022:
Two Bills Propose a new Film Incentive Program to Support Florida’s Entertainment Industry
SB 946- Entertainment Industry by Sen. Gruters was heard in Senate Commerce & Tourism Committee on January 10. The bill creates the Targeted High Wage Production Program within the Department of Economic Opportunity (DEO) under the supervision of the Commissioner of Film and Entertainment to expand the tourism and entertainment industry within the state. SB 946 allows applicants to receive rebates up to 23% of qualified expenditures, or $2 million, whichever is less with the requirement to make a good faith effort to use existing providers of infrastructure or equipment. The program includes requirements on the film, television, or digital media production company to employ at least 60% of Florida residents and spend at least 70% of their production time in Florida. The Florida Film and Entertainment Advisory Council must determine the score for each qualified project. SB 946 passed favorably (9-1) and awaits its second committee stop, Senate Finance & Tax. The House companion, HB 217 – Film, Television, and Digital Media Project Rebate Program by Rep. Trabulsy, has not been heard.