Texas legislators endorse enhanced film incentive scheme, championed by Taylor Sheridan, Fort Worth; boosting financial aid for movie production.
Texas Governor Greg Abbott is anticipated to sign a bill that offers hundreds of millions in state film incentives over the next decade. The measure, passed on Saturday by the Texas Legislature, is aimed at cementing Texas' position as a dominant player in the film and TV industry.
The legislation, which received bipartisan support, allocates up to $300 million every two years to the Texas Moving Image Industry Incentive Program. This funding initiative, slated to continue until 2035, would amount to a $1.5 billion investment in the state's production sector if fully utilized.
The bill's sponsors, including Texas Representative Todd Hunter, assert that this infusion of money will bring about a significant boost to the state's film and entertainment industry. They predict that production activity will triple in size, with Fort Worth, one of the leaders in filmmaking, poised to benefit significantly.
A high-powered lobbying effort, spearheaded by Fort Worth Mayor Mattie Parker, star producer Taylor Sheridan, and notable Texas actors like Matthew McConaughey, Woody Harrelson, and Dennis Quaid, was instrumental in the bill's passage.
The bill's passage makes Texas competitive with states like Georgia and New Mexico in attracting out-of-state production investment. Production companies would be able to utilize incentive payments for various expenses such as worker salaries, meals from local restaurants, and airfare from Texas-based airlines.
Most of the 11 Tarrant County House members voted in favor of the bill, with Republican Reps. Tony Tinderholt and David Lowe casting the two dissenting votes. Tinderholt argued that his opposition reflects the concerns of his district, while Lowe said he had consistently opposed "Hollywood handouts."
The initial proposal, which called for $500 million in funds every two years until 2032, was altered before the final vote. The appropriation was reduced to $300 million, and the bill's sponsor, Rep. Todd Hunter, stated that he will advocate for a higher biennial amount in future budget cycles.
Industry experts and local producers such as Red Sanders, Taylor Sheridan, Paul Jensen, and Chad Gunderson have praised the bill for providing a reliable source of funding for film and television projects. The revised funding structure will also encourage studios to invest in infrastructure across Texas.
The Fort Worth region's film and television industry has experienced remarkable growth in recent years, partially due to Taylor Sheridan's success with his productions, including "Yellowstone" and "Landman." This bill is expected to continue the trend, making Fort Worth a prime destination for film and TV production.
The passage of this bill signifies a strategic move by the Texas government, aiming to stimulate the state's economy beyond its existing film and TV industry. The allocation of funds for education-and-self-development, such as workshops and seminars for local filmmakers and crew, could foster growth in that area.
In addition, the enhanced sports scene in Texas might benefit from this bill, as the influx of production companies could potentially lead to sports-themed projects, further boosting the state's economy. The government's decision to invest in the film industry could also generate news headlines, showcasing Texas' commitment to its industries' expansion beyond traditional sectors like oil and agriculture.