To stimulate the state’s film industry Alabama Governor Bob Riley has signed into law new legislation that would provide incentives to qualifying productions.
“With this new law we’ll attract new investment into Alabama,” the governor said in a release. “We’ll increase job opportunities for our citizens and we’ll improve our ability to compete on the global stage for film and motion picture production.”
Included in the incentives package, which would be available to productions that qualify, are rebates equal to 35 percent of the payrolls paid to Alabama residents and 24 percent of other production costs.
Such legislature has been developed to target smaller productions whose budgets range from $500,000 to $10 million in order to grow the state’s movie industry.
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There’s a limit of $5 million in rebates available during the current year, with the cap growing to $7.5 million in 2010 and $10 million in years beyond.
About 42 other states provide some financial incentives to producers and studios to film in their locations.