Could a tax credit upgrade help make Indiana a film and media hub?

In this era of online entertainment, you could switch to a steaming service this very second and watch one of many classic movies filmed in Indiana. You would be hard-pressed to find many movies and TV shows that recently were filmed in Indiana—even those where the stories are set in Indiana. Other states, including several of our immediate neighbors, have been much more aggressive than Indiana in offering financial incentive to filmmakers, TV producers and commercial creators. In 2022, Gov. Eric Holcomb signed a law that offered state tax credits for certain elements of a production’s budget. But that solution isn’t the best fit for some producers, who can find better deals elsewhere. And not a single project has been approved by the Indiana Economic Development Corp., which administers the tax credit.

New legislation working its way through the Statehouse hopes to make the film and media tax credits more desirable. It would allow producers to sell the tax credits for a percentage of their value. But there are enough limitations to stymie a medium- or large-scale production. IBJ’s Dave Lindquist has been studying the issue and breaks down the new proposal in a story in the latest issue of IBJ. He’s the guest this week on the IBJ Podcast to talk about interstate competition for media projects and why an upcoming movie set in Indianapolis and featuring Al Pacino was instead shot in Louisville. He also asks current Indiana filmmakers whether they believe the new proposal would be valuable.