Local Economic Impact of Film Industry Continues to Fall as Incentives Remain Low
The total economic impact of the film industry in Miami-Dade in 2009 is expected to be about $10 to $20 million less than 2008, according to Miami Today.
That global economic slump may have something to do with it, but officials are also blaming Florida having relatively little in the way of incentives to offer the industry. Florida offered a total of only about $10.8 million in tax cuts this year, which were snapped up on the first day they were offered.
Overall production in 2009 dropped about 20 percent, and still photography shoots, once a booming industry in Miami Beach, have thinned out considerably.
The fall continues a trend this decade of the Sunshine State losing out on major projects to states that offer better incentives, and insiders say the only way to change that is to start offering more competitive incentives.
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