Last year, U.S. country artist Ashten Akins appropriately released the song Goodbye Georgia. Indeed, since last June, only 245 film and television projects were shot in the state of Georgia, compared with 412 in 2022.
The U.S. state is now reporting close to a 50 percent drop in production spending over the past three years.
Studios are heading abroad, especially to the U.K., where costs are lower — even though Georgia’s generous production tax credits are similar to those in the U.K.
Georgia’s film tax credit program offers a base 20 percent transferable tax credit on qualified in-state expenses for production companies that spend at least $500,000.
Reportedly, compared to 2022, 29 percent fewer movies and TV series with budgets above $40 million were produced in the U.S. last year.
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