The Media and Entertainment Industry

It is so absolutely financially lucrative and exploitive to commerce that it has its own acronym, M&E, for Media and Entertainment.

Most people know the industry as a bunch of stars that voice their opinion too much, party too much and get paid too much!  THERE, now we got the bad stuff out of the way.  The truth is most people, including the business community, have no idea about what the film and media industry can do for them.
 
If you want any to take part in the global community, here’s how.

The motion picture industry employs over half a million people in the U.S. (U.S Department of Labor 2004). Spending on theatrical tickets was around $9 billion in the U.S. and close to $11 billion internationally in 2004 alone; revenues from ancillary markets (particularly home video, but also merchandising) are several times higher (Standard & Poor's 2004). Motion pictures are a key driver of the market for entertainment products – currently the number one export market for the U.S.

This is just the tip of the iceberg. 

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Understanding and Comparing Media Tax Incentives and Rebates

The purpose of this is to discuss and compare the Media Tax Incentive and Rebates within a few selected states.  The states chosen are Michigan, Pennsylvania, Georgia and Connecticut since WAR Entertainment and WAR Enterprises has projects either currently financed and based within these states or has financing available that might be applicable for these states.  The big question is, which state offers the best deal?

Outline of a Tax Incentive Program

Production incentives are offered as cash rebates, tax credits or front-end/back-end production funding.  There are additional numerous incentives that may be offered along side, such as tax relief from Economic Development Commissions, hotel and tax exemptions and waivers.  When putting together a major production, what is offered on the surface may not the best picture of the end result.  They are offered because the media industry is labor intensive, self-perpetuating in terms of training for jobs, environmentally friendly and a cash influx into the state.

There are different types of incentives.

1. Cash Rebate or Grant – These do not

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