Music and Entertainment
Read more about Georgia Music and Entertainment Industry
How Atlanta Is Taking Over the Entertainment Industry
Source: The Ringer
Georgia’s generous tax incentives have lured production companies away from Hollywood, and the state’s homegrown initiatives are continuing to ripen
HB-155: ATLANTA MUSIC’S COME UP OR TRICKLE DOWN?
Source: IM ATLANTA
The emergence of Georgia’s booming film industry was a direct result of a bill passed called the Georgia Entertainment Investment Act.
Georgia: House and Senate to pass bill on music investment act
Source article: Georgia House and Senate Pass Georgia Music Investment Act
- HB-155 was designed to retain, create, and grow thousands of music jobs in Georgia.
- The bill focuses on giving incentives on 3 major areas: live productions, music recording and film scoring.
Georgia Music Partners (GMP) is very please to announce that the Georgia Music Investment Act, which will be known as HB-155 was passed. This is the first ever targeted incentive specifically for the music industry in Georgia, a significant milestone in the rising film and music industry in the state. For seven years, GMP and the Recording Academy Atlanta Chapter have been advocating this on behalf of Georgia’s diverse music industry.
HB-155 was designed to retain, create, and grow thousands of music jobs in Georgia.
It is focused in 3 major initiatives. For Live Productions, the bill will attract touring productions by incentivizing them to audition, rehearse and begin their tours in Georgia. A tax credit of 15-20% will be received if they spend more than $500,000 in Georgia.
Another initiative is for the recording industry, where a tax credit of 15-20% will be given for projects record with a minimum spending of $100,000.
On average, music is 5% of the production budget for film and TV. With video games, it can be even more. There is a 15-20% tax credit for all projects recorded in Georgia that spend a minimum of $250,000 (aggregate in a year). Video game music and scoring projects are increasing in size and scope.
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