Alaska Film Industry Gets Boost to Create Jobs and Spur Investment
FAIRBANKS – Today, Governor Sean Parnell signed Senate Bill 23, which extends Alaska’s film and television production incentives for an additional 10 years. Sponsored by Senator Johnny Ellis, the legislation continues Alaska’s successful effort to attract the film and television production industry to the state, putting Alaskans to work and highlighting our state’s natural beauty.
“This 10-year extension is a major accomplishment that allows young Alaskans to plan their careers here at home and gives Alaska businesses the confidence they need to make investments,” said Senator Ellis. “This legislation is about making a good program even better by continuing to attract millions of new dollars to our economy while creating opportunities for Alaskans to invest in this new and growing industry.”
In 2008, Senator Ellis sponsored the original legislation creating Alaska film and television production incentives and re-opening the Alaska Film Office. Since their inception, production incentives have attracted feature films, reality television programs, documentaries and commercials to Alaska. Improvements in SB23 focused on “Alaskanizing” the benefits, including doubling the Alaska hire bonus, offering greater incentives for work done in rural Alaska and increasing reporting requirements to improve transparency and accountability.
In addition to extending film and television production incentives, SB 23 includes incentives for oil and gas exploration in highly prospective and unexplored basins around the state, tax credits for construction of natural gas storage facilities statewide, and tax breaks to attract small research and technology companies to Alaska.
“The Anchorage Economic Development Corporation has been supportive of the Alaska Film Industry Tax Credits since their inception and we are excited to see the extension of the incentives for another 10 years. We appreciate the hard work of Senator Ellis, members of the Legislature and Governor Parnell for supporting the economic development incentivized in SB 23.” said Bill Popp, President and CEO, Anchorage Economic Development Corporation. “SB 23 has broad statewide benefits vital to the economic future of Alaska. Encouraging new oil and natural gas exploration and lowering energy costs for the citizens and businesses of the Interior are significant for boosting business and growing our economy. The small business tax exemption for high tech and high growth industries makes Alaska an extremely attractive place for those types of businesses to locate, bringing new jobs and new opportunities with them.”
“Diversifying our economy and creating a positive climate for Alaska businesses are issues that bring together Alaskans of all political persuasions,” Said Senator Ellis. “It’s a good thing for Alaska that the Legislature could come together to support this economic development initiative.”
For more information, please contact Matt Moser in Senator Ellis’ office at (907) 269-0169.
Posted: May 30, 2012