Written by on Jun 16, 2010. Posted in Incentive News

Virginia launches refundable filming credit of up to 20%

Film productions shooting in Virginia could now be eligible for a refundable tax credit of 15%. An additional 5% could be available for projects shooting in particularly deprived areas of the state.

Between 2010 and 2012 a maximum fund of USD2.5 million will be available throughout the state, but this will double to USD5 million for each biennium after that.

Virginia’s Lieutenant Governor Bill Bolling said: “With a little effort, we can establish Virginia as one of the best locations on the East Coast to produce everything from full-length motion pictures to TV commercials and everything in between.”

The state benefitted from industry revenue totalling nearly USD380 million in 2008 and 4,000 local Virginians were employed by filming productions, according to the state Governor’s office.