Governor JB Pritzker has signed the HB 5005, expansion of Illinois Film Production Services Tax Credit, making Illinois an even more attractive locale for production.
The legislation, an omnibus economic development bill which also includes incentives for quantum computing development and redevelopment zones across the state, importantly removes restrictions on national talk shows, contests, and game shows, allowing these productions to participate in the Film Production Services Tax Credit program.
“One thing that everyone agrees on – labor, business, and government alike – is that bringing more film, television and commercial production to Illinois benefits our state’s economy and workforce,” said Illinois Production Alliance Executive Director Christine Dudley. “With the tremendous support that Governor Pritzker has shown the industry, Illinois is well positioned to be a production hub, and cultural touchpoint, for many years to come.”
“Since its inception, Illinois’ production incentive program has created thousands of high-quality, high-paying jobs, supported local businesses, and generated strong economic growth,” said Charles Rivkin, Chairman and CEO of the Motion Picture Association. “Governor Pritzker has been a champion of the film, television, and streaming industry. By signing HB 5005, Illinois will continue to be a global leader in motion picture production.”
According to the Economic Impact Study commissioned by the Illinois Production Alliance and conducted by Olsberg SPI, released earlier this year, the Illinois Film Production Services Tax Credit has been a key driver of production in the state, bringing in a $6.81 return on investment for every dollar spent on the credit, resulting in more than $3.6 billion in economic activity from 2017 through 2022. Some 94% of current film and television production in the state is attributable to the program.
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