Delware bill to offer tax breaks for film, tv and game studios looking to move to the first state
DOVER, Del.- A new bill seeks to make the first state, the first choice for tv, movie, and game development studios to call home.
The bill, known as the Delaware Entertainment Job Act, would give 30 percent refundable tax breaks for E-sports venues, video game developers tv, and film and productions. It would give a 30 percent transferable tax credit for investment in the state. During the hearing, state reps heard from Netflix producers, movie production companies, and the Entertainment Software Association, on how they want to bring their projects and companies to the first state but more favorable tax programs from states such as Georgia have made it difficult to justify.
Lawmakers in favor of the bill say giving these breaks to new businesses coming in can help boost Delaware’s technology and entertainment sector.
“A good use of taxpayer money is not giving away money but easing the tax burden on businesses that may want to come here and the film and development industry is a great example of what that could be in Delaware,” said Rep. John Kowalko, who voted in favor of the bill.
The measure passed the House Administration Committee and now awaits a full house vote.