Data Point – Florida’s Entertainment Industry

Florida’s Entertainment Industry

Over the past decade, Florida’s entertainment industry has created a hub for innovation and economic development. Over the years, both the state and local governments have created film incentive programs to stimulate the growth of entertainment industries within the state. 

1) Florida Entertainment Industry Financial Incentive Program 

In 2010, the Florida Office of Film and Entertainment (OFE) established the Florida Entertainment Industry Financial Incentive Program to encourage filming and production across the state. 

The Program began July 1, 2010 and expired June 30, 2016. During this time, DEO certified 299 productions for tax credits, generating approximately $1.25 billion in Florida expenditures. Benefits of the program include: 

• $780 million in wages associated with the 299 productions 
• The creation of 109,745 Florida jobs 
• $296 million in credits authorized for the program 

Resource: Florida Office of Film and Entertainment Fiscal Year 2017-2018 Annual Report 

The Florida Entertainment Industry Financial Incentive Program (tax credit) generated a positive ROI in 2015, 2018, and 2021: 

2) Florida Entertainment Industry Sales Tax Exemption 

The Florida Entertainment Industry Sales Tax Exemption allows an exemption “for any qualified production company engaged in the production of motion pictures, made for television motion pictures, television series, commercial advertising, music videos, or sound recordings in Florida” established in s.288.1258, F.S.   

This program offers sales and use tax exemptions on:   

• Fabrication labor used in set design and construction for qualified motion pictures; 
• Motion picture or video equipment and sound recording equipment that is purchased or leased for use in this state for certain entertainment production activities; 
• Sales of master tapes, records, films, or video tapes, and 
• Leases or rentals of real property used as an integral part of the performance of qualified motion picture production services. 

The Florida Office of Film and Entertainment (DEO) estimated that all qualified production companies received $46.3 million in exemptions between FY 2016‐17 and FY 2018‐19. 

Resource: http://edr.state.fl.us/Content/returnoninvestment/EntertainmentIndustryIncentivePrograms2021.pdf 

The Florida Entertainment Industry Sales Tax Exemption Program (Tax Exemption) generated a positive ROI in 2015, 2018, and 2021: 

3) Florida Local Incentive Programs 

According to the 2021 EDR report “Return on Investment for the Entertainment Industry Incentive Programs,” a few Florida counties and municipalities offer their own film and entertainment production incentives that include:  

• Duval County (Jacksonville): The Jacksonville Film & Television Job and Business Creation Program 
• Hillsborough County (Tampa) 
• Miami-Dade County (Miami) 
• Miami-Dade County (City of North Miami)  
• Miami-Dade County (City of Miami Beach)  
• Miami-Dade County (Miami Beach Visitor and Convention Authority)  
• Palm Beach County (Boca Raton, Jupiter, West Palm Beach) 
• Sarasota County (Sarasota)  
• Pinellas County (St. Petersburg/Clearwater) 

To view more details about each of Florida’s local incentive programs, view Film Florida here: https://filmflorida.org/state-resources/ 

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.