By Jenni Riehle | February 13, 2009
The tax incentives for the film industry, which were approved last April by Governor Granholm, are in full swing. In an effort to encourage job growth and stimulate Michigan’s economy, competitive incentives were designed to reel in industries in the highly competitive market.
Michigan is now standing at the top with arguably the most generous tax incentives in the country. The Michigan Film Incentives bill gives industries up to a 42 percent rebate on the Michigan Business Tax for all production expenditures. In addition, if companies choose to set up shop in the state they will receive a 25 percent rebate on the Michigan Business Tax for infrastructures at 100,000 dollars or more.
The incentives are not only for the film industry but also apply to television and digital media companies.