The Peach State is making waves in the entertainment sector as it steadily climbs the ladder to become a film production powerhouse. The Georgia Department of Economic Development recently disclosed that a whopping $4.1 billion was expended on film and TV productions within the state in the last year alone. This remarkable growth is a testament to Georgia's burgeoning film industry, which hosted 390 productions between July 1, 2022, and June 30, 2023. These productions encompassed 31 feature films, 55 independent films, 241 television and episodic productions, 40 commercials, and 23 music videos.
A significant milestone was achieved as Georgia surpassed New York in soundstage space, with projections indicating that it's on track to overtake California by 2027. The evolution of filming space in Georgia is nothing short of impressive, expanding from 45,000 square feet in 2010 to an anticipated 7 million square feet by 2025. This exponential growth reflects the state's commitment to nurturing a conducive environment for film productions.
The financial trajectory also paints a promising picture. From 2012 to 2022, film-related capital investment in Georgia summed up to $1.3 billion. Moreover, an additional $2.9 billion is earmarked for construction between 2023 and 2027, signaling a booming infrastructure growth propelled by the success of the state's film industry.
At the helm of this success is the state's film tax credit, which, according to Kelsey Moore, the executive director of the Georgia Screen Entertainment Coalition, has been instrumental in metamorphosing Georgia into a global filming hub. The billions spent have not only enriched local businesses but also created a myriad of job opportunities, contributing significantly to the state's economy.
However, it's not all smooth sailing as the state's film tax credit is currently under scrutiny. State Economist Jeffrey Dorfman has proposed that the tax credit should either be revoked or scaled back. Contrarily, proponents argue that such a move could potentially deter productions, driving them to other states and, in turn, adversely affecting the local economy.
The narrative of Georgia's film industry is one of resilience, strategic investment, and an unwavering commitment to becoming a global leader in film production. As the state continues on this upward trajectory, the spotlight shines brighter on Georgia, heralding a new era of film production not just in the United States, but on the global stage.