Eligible productions could receive tax credits for up to 30% of their expenses
By Priyanca Rajput 4 Aug 2022
The US state of Indiana is set to launch a new tax credit up to 30% for local and international film and TV productions.
Eligible productions include feature length films, documentaries; TV series and movies; music productions and digital media productions that are intended for reasonable commercial exploitation.
The credit offers a 20% base incentive on qualified expenditures, 5% additional incentive for hiring local talent and a 5% additional incentive if Indiana branding is used in a final project.
“Creativity is an essential ingredient to the vibrancy of any community, and this new tool will encourage artists to do their work here in the Hoosier state,” said Indiana Secretary of Commerce Brad Chambers. “By attracting media companies and their service businesses to Indiana, and by extension, continuing to diversify Indiana’s economic portfolio, it is my hope that we are enabling more of our talented young people to pursue careers that align with their passion, without having to leave home.”
The credit will provide an incentive to members of the creative economy to film or record qualified media productions in Indiana, encouraging student, amateur and professional crews to leverage the state’s urban, rural and natural assets.
“I’ve been advocating for an incentive like this for many years,” said Angelo Pizzo, writer and director of Hoosiers. “Not only does this incentive make Indiana a competitive spot for media production, but it will go a long way in encouraging our talented graduates to stay within the state. I hope that this incentive will continue to grow.”
In an interview with Inside INdiana Business in March this year, state representative Bob Morris (R-Fort Wayne) highlighted the importance of having a 30% tax credit: “It puts us right up there with the other top four states in the country as far as welcoming businesses that want to shoot film here in Indiana. It’s the likes of New Mexico, Georgia, North Carolina and Kentucky as well,” said Morris.
Applications for the Film and Media Tax Credit open on 5 August, 2022.
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