Illinois Expands Film Tax Credit to Boost Production Across All Formats
According to The Center Square, Illinois is making a big push to attract more film and TV production by expanding its Film Production Services Tax Credit. Governor J.B. Pritzker has signed a new law that extends this credit to include talk shows, contests, and game shows, alongside movies and TV shows. This change is part of a broader economic development package that also supports quantum computing and redevelopment projects.
The tax credit offers a 30% rebate for eligible productions and an extra 15% if the production hires workers from economically disadvantaged areas. According to the Illinois Production Alliance, for every dollar spent on the tax credit, the state gets seven dollars back. Nearly 94% of film and TV work in Illinois now benefits from this credit, highlighting its importance to the industry.
READ ALSO: $65 Million Settlement: Big Picture Loans Forced to Pay for High-Interest Loans Scandal
$30 Million Boost: Illinois Expands Film Production Tax Credit to Attract More Productions (PHOTO: Variety)
Governor Pritzker’s Push for Illinois Film Industry Growth: Expanded Tax Credit Targets Hollywood Productions
Governor Pritzker has actively promoted Illinois as a top filming destination, including a recent trip to California to attract Hollywood producers. With popular shows like FX’s “The Bear” and Apple TV’s “Dark Matter” already filming in the state, the expanded tax credit aims to draw even more productions and boost the local economy.
READ ALSO: Alaska’s Permanent Fund Dividend: A $1,312 Cash Handout for Eligible Citizens – Find Out How to Get Your Share
