CLEVELAND, Ohio (WOIO) - On July 17, Governor Mike DeWine approved the $40 million Ohio Motion Picture Tax Credit as part of the 2020 biannual state budget.
The Greater Cleveland Film Commission (GCFC) pushed for the preservation of the tax credit, which was at risk of removal from the state budget.
GCFC was concerned about losing approximately $250 million in production compared to other states if the tax credit was removed.
Now, the tax incentive was expanded to include theatrical productions.
“We now have an opportunity to make Ohio a global destination for film and theater,” said GCFC President Ivan Schwarz.
“We look forward to collaborating with the Governor and legislature on expanding the tax incentive even further, so that we can build a sustainable and permanent industry here in Ohio.”
In Ohio, a major motion picture contributes about $250,000 per day to the local economy when shot on location and a one-hour television episode contributes about $150,000, according to the Motion Picture Association for America.