Wednesday, March 28, 2007

Tennessee Entertainment & Music Commission Launches New Incentive Program

Posted By on Wed, Mar 28, 2007 at 4:00 AM

Tennessee will become more attractive to creators of visual and musical content under three new incentive programs launched Wednesday, according to the executive director of the Tennessee Film, Entertainment and Music Commission Perry Gibson.

"These three incentive programs will place Tennessee squarely among the most production-friendly locations in the U.S.," said Gibson. "Building on Tennessee-based films like Walk the Line, Hustle & Flow and 21 Grams, we're showing that Tennessee is a prime location for filmmakers seeking artistic and economic success."

The Tennessee film and television incentive program will utilize a series of tax rebates, a headquarters incentive, and a grant program established by a $10 million fund sought by Tennessee Governor Phil Bredesen last year and approved by the Tennessee General Assembly in the Visual Content Act of 2006.

Under the legislation, Tennessee can support film and television projects in the following ways: The same rebates are available for Tennessee-based production companies with an in-state production budget of $200,000 per project.

Film production companies that establish a permanent headquarters facility in Tennessee and incur a minimum of $1 million in qualified expenses in the state may be eligible for a 15 percent refund of the company’s qualified expenses.

The Film, Entertainment and Music Commission is also establishing a competitive grant application system for Tennessee-based filmmakers. Filmmakers who reside in Tennessee can apply for a grant of up to $40,000 for the development and completion of qualified film or digital productions.

Applications for each of the incentive programs must be made to the Tennessee Film, Entertainment and Music Commission. The executive director of the Commission will evaluate applications, select projects for funding and then recommend them to the Commissioner of Economic and Community Development and the Commissioner of Revenue for approval.

Additional information on each of these incentive programs, along with applications and definitions is available on the Tennessee Film, Entertainment and Music Commission Web site.

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