States Competing for Creative Dollars

An interesting article from Business XPansion Journal highlights how states are competing with each other with tax credits to draw the lucrative film and media industry to produce within their borders. As more regions wake up to the growth potential, the competition is heating up.

“It has taken a while to embrace these industries as true economic development,” says Sherri McConnell, director, Louisiana Office of Entertainment Industry Development, a division of the Louisiana Economic Development Department. “It is a hard thing to measure, but it is undeniable when you are living in the middle of it.”

However, competing for this business is about much more than tax credits. States that have invested in infrastructure and "cluster" services around the entertainment and media production industry are more attractive for startups and production site selection teams.

New Mexico also has a cluster base of companies involved in simulation and visualization, skills that not only transfer to creative industries but also to homeland security and medical industries. The state's goal is to become a center for production; not a distant location. Film and digital media companies will find a range of services and businesses that are located in the state, as well as a crew base.

West Virginia recently passed some incentives targeting this industry with the help of Delegate Corey Palumbo and his friend and state-native movie star Jennifer Garner. However, West Virginia needs to go much further in developing a cluster of expertise and industry services around some media-related niche industries to compete in this larger economic growth sphere. 

Comments

[Rebecca]

This would be an exciting new direction. Many young West Virginians are very talented in media affects. Combine that with the natural beauty and attractions of our state and I see lots of potential.

[Mike]

The state needs to remember that it's not about developing industries to make West Virginia look good. A film or media industry in WV isn't to promote WV's image. It's about jobs and income and creativity. It's about opportunity. It's about building that "cluster base."