Ohio's Motion Picture Tax Credit Expands: A $36 Million Incentive for Film, TV, and Broadway Productions

Posted June 28, 2024

Ohio's entertainment industry is set to thrive as the state legislature recently approved a significant expansion to the Ohio Motion Picture Tax Credit. This pivotal change, endorsed by Governor Mike DeWine, boosts the tax credit allocation to an impressive $36 million annually, extending its benefits to Broadway and live theater productions. 

Introduction

Ohio's entertainment industry is set to thrive as the state legislature recently approved a significant expansion to the Ohio Motion Picture Tax Credit. This pivotal change, endorsed by Governor Mike DeWine, boosts the tax credit allocation to an impressive $36 million annually, extending its benefits to Broadway and live theater productions. This development marks a considerable shift in Ohio's commitment to attracting high-caliber productions and fostering economic growth through the arts.

Expanded Tax Credit: What It Means

Previously capped at $40 million biennially, the new annual allocation of $36 million signifies a substantial increase in resources dedicated to enticing film, television, and now theater productions to the Buckeye State. This expansion is not merely a financial boost but a strategic move to position Ohio as a competitive hub for creative industries.

Broadway and Live Theater Productions Included

One of the most notable aspects of the revised tax credit is its extension to Broadway and live theater productions. This inclusion opens new avenues for theatrical companies and producers, encouraging them to consider Ohio for their shows and performances. By offering financial incentives, Ohio aims to become a go-to destination for top-tier theatrical productions, potentially attracting a slew of new visitors and boosting local economies.

Economic Impact

The expansion of the Motion Picture Tax Credit is expected to have a far-reaching economic impact. By attracting major productions, Ohio can anticipate increased job creation, from technical crew members to local businesses that support production teams. The ripple effect of this growth can stimulate various sectors, including hospitality, transportation, and retail, enhancing the state's overall economic landscape.

Case Studies and Success Stories

Ohio has already seen success from its film tax credit program. Productions like "Hillbilly Elegy," "Cherry," and "The Marksman" have utilized the credit, bringing significant economic activity to the state. The expansion to include Broadway and live theater productions is poised to replicate these successes in the realm of live entertainment.

Industry Reactions

Industry stakeholders have welcomed the expansion with open arms. Producers, directors, and other creative professionals recognize the enhanced opportunities this tax credit provides. Local officials and business leaders also support the move, seeing it as a catalyst for growth and a way to put Ohio on the map as a prime destination for production and entertainment.

How to Apply

Eligible productions can apply for the tax credit through the Ohio Department of Development's Motion Picture Tax Credit Program. The application process has been streamlined to ensure efficiency and accessibility, encouraging a diverse range of productions to take advantage of this opportunity.

Conclusion

The expansion of Ohio's Motion Picture Tax Credit to $36 million annually, including Broadway and live theater productions, is a transformative development for the state's entertainment industry. By providing substantial financial incentives, Ohio is set to attract a myriad of high-profile productions, bolstering the local economy and solidifying its position as a burgeoning center for film, television, and live theater.