LANSING (WWJ/AP) – Movie and film companies that hire Michigan workers and base more of their operations in the state would fare better than others under a new incentive program approved Thursday by the state Senate.
The bill, approved 34-4, would set some new guidelines for carving up the $25 million available for state film, movie and video incentives. The legislation advances to the House.READ MORE: Michigan Matters: Inspiring Entrepreneurs & Business Owners
The incentives would not be as lucrative as the 42 percent subsidy previously received by film companies working in Michigan. But supporters of the legislation say incentives would be competitive with most other states.
Incentives would be geared toward movies and films with Michigan-centered productions.
Funding equal to 32 percent of spending on Michigan personnel would be available until 2015, at which point the credit would drop to 27 percent. The incentive funding would be worth 27 percent for spending on out-of-state personnel, dropping to 12 percent in 2015.READ MORE: 10 Places To Celebrate National Barbecue Day In Metro Detroit
Incentives would cover 27 percent of a company’s direct production expenditures. The legislation also calls for a 3 percent incentive bonus for use of a Michigan studio or post-production facility.
“This bill is focused on jobs, the economy and Michigan workers,” said Senate Majority Leader Randy Richardville, a Republican from Monroe and sponsor of the legislation. “This legislation vastly improves upon a program that began a few years ago by rewarding those companies that invest in our state and build a long-term presence in Michigan.”
Michigan had one of the nation’s most generous film incentive programs in the nation until Oct. 1, when annual spending on the program was capped at $25 million. The program previously was not capped.
Earlier this month, State Senate majority leader Randy Richardville told AM-1270 host and WWJ political analyst Charlie Langton that Steven Spielberg was considering bringing his next big film to our state. (More on this, here).MORE NEWS: Chief Search: Detroit Board Of Police Commissioners Agree To Find Candidates
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