In the Spotlight: Hollywood Films Set Their Sights on Atlanta!
Did you know that Georgia is now listed among the top three markets for film and TV, right behind New York and Los Angeles? It’s true! If you find yourself watching a movie or television commercial in the near future and think you recognize an Atlanta locale, you may be right! Hollywood location scouts are setting their sights on Georgia— particularly Atlanta, Savannah and the surrounding suburbs—and for good reason!
Not only does the state offer a wealth of beautiful backdrops, scenery and storefronts, but in 2008, a tax incentive began to make the area even more appealing to Hollywood executives. The incentive meant that productions with at least a $500,000 budget could receive a 30 percent tax credit, if they were willing to show the Georgia logo after the credits. Both film and TV productions jumped at the tax break opportunity and in turn, successfully added $7 billion to the state’s economy for the 2017 fiscal year according to the Georgia Department of Economic Development. What’s more, as much as $2 billion of that came from direct spending!
But do we really have the tax breaks to thank for bringing Hollywood’s big budgets to Atlanta and the surrounding areas? Consider this— In 2007, one year before the tax incentive went into effect, film and TV production spending only added $242 million to Georgia’s economy. That’s a big jump!
These tax breaks are expected to keep their momentum going in bolstering Georgia’s economy for years to come and benefit dozens of businesses across a wide range of industries. For instance, everything from lumber companies to caterers to hotels and antique shops have seen a positive impact on sales. Just think of all of the props to purchase for commercials, television shows and films— many of which are being found right here in our own backyard!
And speaking of our own backyard, it’s communities like Dunwoody, Brookhaven and Sandy Springs that are taking center stage! These areas have seen a major increase in popularity over the past few years due to their large homes, spacious yards and wide variety of properties to choose from. Even local universities are getting their fifteen minutes on the silver screen. Brookhaven’s Oglethorpe University has appeared in films like National Geographic’s “Killing Reagan,” where it doubled as Yale University, and National Lampoon’s 2015 “Vacation” reboot, as well as on the television series “Vampire Diaries” and in music videos with artists like Lil Wayne. Next year, the University will become the setting for Melissa McCarthy’s upcoming film, “Life of the Party.”
It’s exciting to see Metro Atlanta on the big screen— After all, the region has already played home to productions like “The Walking Dead,” “Ant-Man,” and “Spider-Man: Homecoming.” And with the area expected to pick up even more action in the coming months, we can be certain that the economy will continue to prosper as a result which is worth looking forward to!
If you are interested in Atlanta real estate or available homes in Brookhaven, Buckhead, Dunwoody, Sandy Springs or Alpharetta, do not hesitate to give Heineck & Company a call!
I look forward to hearing from you!
Jill Heineck
Associate Broker
Heineck & Company at Keller Williams Realty
Phone: (404) 418-9157
Email: jill@heineckandcompany.com
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