Is Atlanta the Hollywood of the South?
Another Young President’s event took me out to Gwinnett to hang out with 75 other YPOers and talk “movies”. Honestly I thought it was a joke. We all got invited to visit a “studio” that is being built in a 5 million square foot building (yes 5 million). The movie, “Fast and Furious 7”, please note, I don’t see movies, so I was driving out asking myself, what happened to Fast and Furious 1-6?
Question: Is Atlanta the Hollywood of the South?
– Georgia offers tax breaks of up to 20 percent on in-state production expenditures, plus an additional 10 percent if the state’s official promotional logo appears on screen.
– Movie and other entertainment production companies say Georgia is among the most attractive of the 44 states that offer incentives.
– Production spending in the Peach State more than doubled after the tax credit took effect in 2008, according to the Georgia Department of Economic Development.
– Last year alone, more than 300 film and TV projects were produced in the state, creating 25,000 jobs, according to the department.
Here is a link to Georgia’s Film and TV Production Website, it is clear that the State’s tax credits (incentives) are attracting big time developers, movie producers, and those interested in ensuring that Atlanta is the Hollywood of the South. I had a chance to talk with Jim Jacoby about his company’s plans to develop a 400,000 square foot studio as part of a 100 acre redevelopment – he said, “it’s simple, the space is here, the need is clear, all we need is the support of the community”. His company’s redevelopment vision includes a studio, a film school, a digital design school, office space, retail, a hotel, and yes living. A true: live-work-play, Hollywood-style vision. I can attest, the space is huge. We had a chance to walk the set of the movie, see a huge “blue screen”, and learn about how this industry will create 1,000s of high-paying jobs in Georgia. It was a fun event with friends: dreaming big, working hard, learning constantly, and enjoying life – in Atlanta – the “Hollywood of the South”.