A tax bill legislators say is focused on boosting Minnesota's income includes a provision that could also jump-start filmmaking here.
Minnesota film boosters hoping for passage of tax-credit plan to lure TV series to state
Legislative leaders have given their assent to the $5 million-a-year proposal.
Although the bill has not yet passed, it has been approved by legislative leaders as well as the Taxes Committee and it includes a four-year plan with $5 million in tax credits available each year.
The industry is moving away from rebate programs such as Minnesota's "Snowbate" and toward credits because they provide more stability, said Melodie Bahan, executive director of Minnesota Film & TV. While the organization asked for $20 million a year for 10 years, Bahan said the lesser amount still represents a significant incentive for bigger projects, particularly TV and streaming series, to set up shop.
"This means year-round employment for multiple years and, on a one-hour drama series, you're talking about anywhere from $4 million to $6 million per episode in production cost," Bahan said.
She can't talk about specific projects (a Bob Dylan-themed feature the board had its eye on has experienced some personnel shifts) but she can dream — about, for instance, a TV series that has its origins in Minnesota but has filmed in Canada and Chicago.
"How cool would it be, if 'Fargo' does one more season, to bring it home?" asked Bahan. "While we may not be able to get an open-ended series [because they require longer commitments than four years], it's certainly feasible we could get a limited or anthology series."
Bahan hopes the $5 million-per-year program can lead to bigger things: "Every other state that created a tax credit program in the last 5 to 10 years, they started small and, after a couple years, they've seen ... that it does bring in jobs and millions of dollars, and the legislators have gone back to expand the programs."
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The governor said it may be 2027 or 2028 by the time the market catches up to demand.