COLUMBUS -- The Ohio House of Representatives today passed House Bill 521 to reauthorize and increase funding for the Ohio Motion Picture Tax Credit.
House Bill 521 increases the maximum total amount of tax credits allowed for completion of motion pictures certified as tax credit-eligible productions from $20 million to $40 million per fiscal biennium.
House Bill 521 passed by a vote of 94-3 and will now be sent to the Ohio Senate for further consideration
Because Ohio is one of 38 states that offer tax credits for motion pictures produced within the state, doubling the amount of tax credits would make Ohio more competitive with other states and help attract additional revenue.
Cleveland was one the state's main beneficiaries of the filming by the movie industry last year.
The Ohio Motion Picture Tax Credit was established in 2009 and has helped attract 27 film productions since its inception, including "The Avengers," "The Ides of March," "I, Alex Cross" and "Unstoppable."
In 2010, more than 8,250 people were employed in primary and secondary film occupations in Ohio, with the industry accounting for $113 million in output.
An April 2012 report by Cleveland State University's Center for Economic Development found that the Ohio Motion Picture Tax Credit created more than 9,000 Ohio jobs, spending $19.5 million on wages, and $53.6 million on support services in the state.
For each dollar the state invested in the tax credit, $1.20 was returned to the Ohio economy.
This same study also found that occupations in the film industry pay higher wages than the average Ohioan typically earns, with film industry jobs paying $43,535 annually and Ohio industries paying an average of $40,890.
House Bill 521 passed by a vote of 94-3 and will now be sent to the Ohio Senate for further consideration.
"I am pleased the House of Representatives has passed this bipartisan jobs legislation," said Representative Mike Dovilla (R-Berea), who sponsored the legislation. "Expanding the successful film tax credit program means more economic development, more jobs, and more opportunity for our state's economy to grow and prosper."