Associated Press Writer
MIAMI (AP) — Florida is trying to lure movie and television production back to the state by offering tax credits to producers.
The state hopes it will expand an industry that peaked in the 1990s. Movies filmed in Florida included the first Bad Boys, Ace Ventura: Pet Detective, and There’s Something About Mary.
Approved by the Florida Legislature this past spring, the new program began July 1. It provides $242 million in transferable tax credits over the next five years, with $53.5 million in credits available in the first year. Production companies will be eligible to receive tax credits for 20 percent of the money they spend in Florida. The program offers an extra 5 percent for family friendly projects and another 5 percent for projects filmed during hurricane season. The most any project can receive is $8 million in credits. Besides movies and TV shows, other projects eligible for the program include documentaries, digital media projects, commercials and music videos.
“It’s truly game-changing for the state of Florida,” Film Florida President Jennifer Pennypacker said. “The scary thing is not just what we were losing. To me, the scary thing is what we weren’t even considered for. We weren’t even getting the call and having the chance to lose it.”