FAQ

Q: Does Colorado need incentives as high as the top-spending states (like Georgia and New Mexico) in order for its incentives to bring an effective rate of return to our state?

A: Nope! Colorado is still able to attract productions and grow jobs and infrastructure as long as incentives are held in the $5M-$30M range. And if a state’s incentive funding grows over time, businesses and individuals will make long-term investments in hiring, training, and infrastructure (e.g., facilities, equipment, etc.)

Q: Do incentives take money from other industries, such as tourism or education?

A: Film incentive tax credits would not require cuts elsewhere because its funding wouldn’t come from other programs.

Q: Do incentives benefit urban communities more than rural ones?

A: The reverse is true! Production companies often prefer to shoot in rural areas because those communities have characteristics producers desire (i.e., scenic, friendly, less overhead, etc.).

Q: I’ve heard film incentives described as “handouts to Hollywood.” Do incentives benefit Hollywood more than Colorado?

A: Colorado’s incentives overwhelmingly benefit Coloradans. Since its inception, Colorado’s film incentive program has produced a return to the state of $37 in direct spending for every net $1 of incentive funding – a total of $116.6M direct income from just $3.1M of net investment (source: Leeds School of Business at CU Boulder). What’s more, these incentives put Coloradans to work, growing the state’s tax base, providing career opportunities for Colorado’s arts and media students, and bringing investment to the state’s rural communities. Transferable tax credits can produce all these economic benefits to Colorado without the need for dollars from other programs. 

Q: Has a bill been drafted and can I read the full text?

A: The Film Incentive Tax Credit (HB24-1358) has been introduced by Representaive Leslie Herod, Representative Marc Synder. To read the full bill and track its progress, click HERE.