Founder & CEO, Ascent Strategy Group | Digital Health Pioneer I Reputation Management Counselor | Reinvention Strategist | Independent Film Producer | Believer in Better Outcomes for All
The Illinois Film Production Tax Credit Incentive, now in its 20th year, has become a model for new revenue and job creation with extended benefits for our state's vendors, tourism, hotels, and restaurants. As I wrote in my Chicago Tribune op-ed, for two decades, the tax credit has been a key factor in Illinois landing major productions. The incentive, championed and extended through 2033 by Gov. JB Pritzker, offers tax credits for local labor and production expenditures. The Illinois Film Production Tax Credit has resulted in a $6.81 return on investment for every dollar spent on the incentive -- $3.6 billion in economic activity between FY17 and FY22. 94 percent of Illinois’ current film industry economic impact is attributed to the impact of the tax credit. Add to that the extended benefits of activity like visits to restaurants featured in movies, television and series such as "The Bear". Since Season 3 started streaming, Chicago restaurant locations have benefitted from higher traffic and business. That's a sales tax boost to the City. #filmproductiontaxincentive #filmproduction #BeinIllinois https://lnkd.in/gRv3ZExT
Have you started Season 3 of The Bear? Chicagoans have a lot to say about the latest season of Hulu's culinary hit show. Whether you've gone through the season like a multi-course Michelin experience or parse it out into a series of snacks, take a moment to appreciate the impact this has on our local economy. By highlighting the excellence of our entrepreneurs, the ecosystem built around Food, Agriculture and Beverage and opening up the burgeoning tourist track of foodie travels; The Bear is a love letter to our City and the people who make it so unique. Join us in celebrating the businesses, restaurants and entrepreneurs who make this Sweet Home Chicago. Check out WBEZ' list of restaurants that appear this season! https://bit.ly/3zuG9DF
President- Lynn Hazan & Assoc, Relationship & Storytelling Recruiter in Communications & Marketing, Career Consultant, Speaker, Storyteller, Interactive Presenter. 3 Time Performer: Story Slam 2024 Networlding Winner
5moJohn Digles:Every time I see Chicago featured in a film, I smile at the economic opportunities that are brought to town. I see my old offices, downtown haunts, views of the Lakefront and all the characters that make Chicago so dynamic. I'm also a theatre lover, one of the reasons I was drawn to this city. Yes, and Second City too. We also have our issues and we are working on them. Thank you for your commitment and passion for the film industry. #lha #storytellingrecruiter #relationshiprecruiter