Lights, camera, tax credits!

The Virginian-Pilot
April 16, 2009

It isn't the biggest issue in the race, but all four men hoping to be the next governor would like to grab a little Hollywood glitter for Virginia, a rare moment of unanimity on a contentious campaign trail.

The most detailed incentive plan thus far comes from Democrat Terry McAuliffe, who wants to offer production companies the chance to recoup up to 20 percent of their state expenditures and payroll costs through rebates or tax credits. McAuliffe also proposes unspecified cash grants for state-based independent productions and increased spending on college programs.

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McAuliffe Calls for Making Virginia Top Destination for Film Production

Meeting with members of Virginia's film industry, gubernatorial candidate Terry McAuliffe today discussed the second chapter of his Business Plan for Virginia, which focuses on creating jobs across the Commonwealth, and his support for growing Virginia's film industry. McAuliffe pledged to make Virginia a top destination for the film industry by increasing tax incentives for film production, creating a highly-trained film industry workforce, and ensuring that all state agencies do their part to support the film industry in the Commonwealth.

"Even with the recent economic downturn, the film industry is one of the few sectors of our economy that is expected to see continued growth. Not only do film productions have an immediate positive effect on business sectors across Virginia, including housing, retail stores, and restaurants, but they also promote the Commonwealth's $18 billion tourism industry," McAuliffe said. "When the HBO miniseries John Adams was produced in Virginia, the total state investment in the project was only $1.25 million. However, the project was responsible for 3500 jobs and $80 million in direct spending in Virginia. Now that's a good return on investment!"

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