Our view: Virginia’s opportunity – Film Tax Credits
And then there’s Virginia. Virginia’s film tax credits are capped at $6.5 million per year; once they’re used up, the state grants no more. For comparison’s sake, Georgia has no cap. Louisiana maxes out at $200 million. North Carolina’s tax credits totaled up at $62.2 million before they were abolished.
So Virginia is very much at the lower end of the scale. Keep in mind this isn’t tax money we’re spending; it’s essentially tax money we’re refunding as an incentive for productions to set up shop here and spend even more. And employ people.