Film & Entertainment Executive Summary

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This document is the Executive Summary paper that was submitted by Film Florida, on behalf of the film, TV and digital media industries, to Enterprise Florida as a result of their "Roadmap to Florida's Future" Regional Strategic Planning Forums.

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Film & Entertainment Executive Summary

  1. 1. FLORIDA’S FILM, TV & DIGITAL MEDIA INDUSTRY “The significant problems we face cannot be solved at the same level of thinking we were at when we created them”. - Albert Einstein, scientist (1879-1955) Florida must start thinking about a strategy that Brings “New” Money will first and foremost encourage the retention of To Our Local Communities existing “high-impact” industries and professional workforce within the state, which will set a solid High-impact feature films and TV productions spend foundation upon which we can build bridges to an average of $225,000 per day on-location; a 21st century diversified economy. The industry rapidly infuses “new” money, stimulating small businesses, entrepreneurship and growth through- Florida’s film, TV and digital media industry exemplifies the type of “high-impact” industry out local communities; that will help Florida achieve both short-term The money is spent in a multitude of ways throughout objectives and long-term economic development, the community including but not limited to hotel rooms, diversification and sustainable prosperity: rental cars, travel, shipping, office space, warehouse space, office equipment, office supplies, cell phone/ FLORIDA’S FILM, TV walkie-talkie rentals, restaurants, bars/nightclubs, & DIGITAL MEDIA INDUSTRY: retail stores, dry cleaners, doctors, pharmacies, A Proven legal services, trainers, construction supplies, off-duty Revenue Generator* police and fire-rescue workers, security guards, In 2008, every ONE barricades, cleaning services, location fees, park dollar of film incentives rentals, permit fees, gas, mechanics, electricians, provided by the state plumbers, engineers and much more. was associated with $22 in additional gross state High-Wage Jobs for Florida’s product and $1.44 in Existing and Developing Workforce* additional tax revenue; In 2007, the film, TV and digital media industry For every $1 invested directly employed approximately 102,000 Floridians in film, TV and digital at an average annual wage of $57,700; it provided media tax incentives; Floridians with another 105,000 indirect spin-off jobs production companies first in related industries; spend approximately $7 on Florida wages and Florida currently possesses the third largest, Florida goods & services; trained, professional, entertainment industry For every $1 spent on a production within Florida, workforce in the country; the state sees an additional 95 cents of impact; The industry triggered significant private and state Only expenditures on Florida wages and Florida investment in Florida’s world-class graduate goods & services qualify for incentive rebates. and undergraduate film, TV and digital Florida’s current and proposed plan is a “Performance- media programs, Based Incentive”. No money is ever rebated until a now available in production company has invested their money pursuant colleges and universities to specific “Florida-friendly” thresholds for spending. throughout the state. www.DigitalMediaBannerCenter.com Film Florida ... Film Smart. www.FilmFlorida.org
  2. 2. Partners with and digital media productions in Florida multiplies and Florida’s Existing contributes significantly to our tax coffers. Industries The Florida tourism and Florida investing in the film, hospitality industries benefit TV and digital media industry will: from major marketing and Produce an immediate positive return advertising campaigns on our investment. launched by studios and TV Looking to the future, the networks to promote Florida-based productions; industry can create many Increased world-wide exposure triggers film-based opportunities for broad-based tourism, driving more revenue into tax coffers; investment (both foreign High-impact feature films and TV projects stimulate and domestic) to develop the real estate industry by showcasing Florida’s infrastructure and create desirable lifestyle globally; bricks and mortar facilities, On-location productions rely heavily on a complex as well as creating combination of workers and businesses to make movies opportunities for personal and TV shows, from construction through other skilled wealth-building by private labor resources; investors in creative projects. Florida’s digital media, modeling & simulation and Trigger more interactive entertainment companies are global leaders investment in Florida. in the research, development and production of interac- By working diligently to attract domestic and tive and 3D digital content, entertainment software and international film, TV and digital media companies, development/production tools driving a massive media we can become a production hub for not only the paradigm shift affecting virtually every business and southeastern United States, but for Latin America, every industry in 21st century society. Their products South America and the Caribbean as well. and services include: Increase its presence - Mobile media content as a Global Commerce Hub. - On-line and console video games The film, TV and digital media industry represents - 3D virtual worlds high-wage employment opportunities for thousands - Media production portals of skilled, working Floridians immediately. Future - Game engines & 3D production tools investment in the industry will provide employment - Online and interactive advertising opportunities for the thousands of students that - Commercial animation and simulation are pursuing film and new media career paths - And many more in Florida schools. Florida’s High Tech Industries work Invest in our existing and closely with our digital media and inter- developing workforce and provide active entertainment companies capitaliz- viable opportunities for our future. ing on their capabilities to produce military training simulations, medical The Film, TV & Digital Media visualizations, 3D virtual training environments and cost Industry Is The “Go To” Industry effective game based training platforms, to name a few. In Times Of Crisis We are one of the only industries capable of surviving, Builds Bridges to Diversify regardless of economic conditions. Our impact is Florida’s Economic Future immediate, far-reaching and economically beneficial The Film, TV and digital media industry infuses large to Florida’s workforce. We need your support to push amounts of money into local economies and supports for a competitive, consistent and feasible film, TV and small businesses, encourages entrepreneurship and digital media tax incentive. Without it, the substantial stimulates growth throughout local communities; the investment our state has already made in developing industry can and will further diversify Florida’s economy infrastructure and a skilled workforce will most definitely – creating new, and expanding existing, revenue be lost to our progressive competitor States. streams. On a state level, the money spent by film, TV The film, TV and digital media industry must be part * The Film & Entertainment Industry in FL. of the solution to Florida’s economic recovery and growth. Statewide Economic & Fiscal Impact. Haas Center for Business Research & Economic Dev. 2008.

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