DENVER — For the first time, prospective producers can count on state economic incentives for making their movies, television and other media in Colorado for more than a year.
Colorado Gov. Jared Polis signed a bill into law last week that allows producers to collect up to $5 million in refundable tax credits per year for their work through 2029. The policy also raised the cap on the amount awarded for incentives from 20% to 22% of local expenditures.
In all, the legislation allows for up to $50 million in tax credits to go to producers over the next four years.
"The opportunity is multiple over what we've had previously to support, film, television and media production here," said Arielle Brachfeld, deputy film commissioner for the Colorado Office of Economic Development and Trade.
Brachfeld's office received a one-year allocation of $5 million for the 2024 film program, but the new legislation is the first time that her office gets a multi-year, guaranteed allocation.
> Read the full story at the Denver Business Journal.
SUGGESTED VIDEOS: Latest from 9NEWS
> Top stories from 9NEWS curated daily just for you! Sign up for the 9NEWSLETTER right now to get can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.
