For every dollar they're given in state tax credits, movies and television shows filmed in Florida could put more than $20 back into state coffers, according to a study released this week from the film industry.
The report, prepared for the state's Department of Economic Opportunity and paid for by the Motion Picture Association of America, projected a positive return on investment for the Florida's Film and Entertainment Industry Financial Incentive Program.
Specifically, the study looked at how much tourism money the film industry could attract from 2011 through 2017. That ranged from about $1.6 billion to $5.9 billion, assuming either 5 percent or 19.5 percent of Florida visitors come here because of something they saw in a movie or TV show.
With $296 million in state tax credits over that time, the industry's return on investment would range from 5.6 percent to 20.5 percent, meaning the productions would generate between $5.60 and $20.50 for every dollar they're given in tax credits.
The state enacted the incentive program in 2010 in hopes of bringing more film and other entertainment productions to Florida. Lobbying groups like Film Florida and state lawmakers like Rep. Manny Diaz, R-Hialeah, are pushing the Legislature to fund incentives through 2020.
"The program attracts a significant amount of entertainment projects, and in turn, Florida gains direct and indirect jobs, tax revenue and film-induced tourism dollars from the film and entertainment industry," Film Florida President Leah Sokolowsky said in a statement. "If leveraged to its full potential, the incentive program has the ability to infuse even more capital into our state's economy."
Made in the Florida Keys
Here's a good sampling of movies made in whole or part in the Keys (lots of car commercials are also filmed in the Keys):
- "The Pacifier" with Vin Diesel.
- "2 Fast 2 Furious" with Paul Walker.
- "Red Dragon" with Anthony Hopkins, Harvey Keitel, Edward Norton, Ralph Fiennes and Mary Louise Parker.
- "License to Kill" with Timothy Dalton.
- "The Breakers" with Gene Hackman.
- "The Crew" with Burt Reynolds, Richard Dreyfuss and Jennifer Tilly.
- "True Lies" with Arnold Schwarzenegger and Jamie Lee Curtis.
- "Up Close and Personal" with Robert Redford and Michelle Pfeiffer.
- "Speed 2" with Sandra Bullock.
- "Drop Zone" with Wesley Snipes.
- "Matinee" with John Goodman.
- "Spanish Prisoner" with Steve Martin.
- "Blood & Wine" with Jack Nicholson, Michael Caine and Jennifer Lopez.
- "PT 109" with Cliff Robertson.
- "Criss-Cross" with Goldie Hawn and Keith Carradine.