Chris Holman welcomes Board Member, Alexander Page, and Chair, David Haddad Michigan Film Industry Association, Lansing, MI.
They are guests brought to us by Lorri Rishar: (EDGE Spotlight interview for August 2023:)
The topic of discussion: Bipartisan, bicameral Multimedia Jobs Act introduced in the state Legislature in Lansing, Michigan.
Alexander, David, welcome, please remind the Michigan business community about the Michigan Film Industry Association?
What is the bipartisan jobs act about?
How far through Lansing's legislature is the process?
What will change if it passes?
What are you hoping the business community will do in regard to the bill, is this a call for calling your legislators?
Anything else we should know?
Here is some more information on the topic:
MI Film Industry Association applauds introduction of Multimedia Jobs Act
Bipartisan, bicameral legislation retains talent, boosts economy
LANSING, MI – The Michigan Film Industry Association (MiFIA) called this week’s introduction of legislation creating the Multimedia Jobs Act a win for Michigan’s economy and a step forward in keeping industry talent and jobs in the state.
The two-bill package was introduced in the House by Reps. John Roth (R-Interlochen) and Jason Hoskins (D-Southfield) as HBs 4907-4908 and Sens. Dayna Polehanki (D-Livonia) and Jeremy Moss (D-Southfield) in the state Senate as SBs 438-439.
The legislation creates a two-tiered tax credit that provides incentives for Michigan-produced commercials, commercial photography, corporate videos as well as film, television, and streaming productions. The action comes at a time when over 40 states and territories support film programs and, in turn, receive the jobs, economic boost, and related upstream, downstream and peripheral benefits from a multi-billion-dollar industry. This legislation will attract and support high-paying creative and technology sector jobs that are the driving force of media content.
“This is about Michigan jobs,” said David Haddad, MiFIA chair. “As we look to boost our state’s economy and keep our talent here, we know that attracting the robust film industry is a smart investment in our state’s economy and its workers.”
Under the Multimedia Jobs Act, preference is given to state-based companies that hire Michigan residents. Other specifics of the legislation include:
· Transferrable tax credit. Not a rebate. Tax credits stay in Michigan and benefit Michigan companies.
· A base tax credit starting at 25% for in-state spending with an additional 5% awarded for the inclusion of “filmed in Michigan,” “Pure Michigan,” “Michigan Film & Digital Media Office” and “MIFIA” logo;
· A commitment from production companies to spend at least $50,000 for commercial photography, advertising commercial or project under 20 minutes or at least $300,000 for productions over 20 minutes;
· A 30% tax credit for hiring Michigan residents and 20% for non-residents;
· A requirement that qualified Michigan vendors provide proof of brick-and-mortar presence, have inventory, and have full-time employees on staff. Pass-through companies and transactions will not qualify; and
· Accountability requirements for independent verification of approved expenditures.
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