Today, Virginia Governor Bob McDonnell announced that the Virginia film industry had seen a 15.7 percent in employment. Citing the Economic Impact of Major Film and Television Productions Shot in Virginia Between 2011 and 2013 as reported by Magnum Economics, Governor McDonnell said, “Our administration has been committed to helping the private sector create new jobs in the Commonwealth, and the film industry is a success story in this effort. Since we increased funding in the Governor’s Motion Picture Opportunity Fund and enacted tax credit legislation, employment in the Virginia film industry has increased 15.7 percent, after a previous decline of 9.5 percent. These numbers demonstrate the kind of positive results a targeted film incentive program can have for Virginia.”
The report found that for every dollar that is invested by the state to bring productions to Virginia an impressive $11.80 was returned to the Virginia economy. The total economic impact of eleven of the most recent productions was $139.1 million. Among these projects were Steven Spielberg’s Lincoln and Captain Phillips which stars Tom hanks.
More information about the film industry in Virginia is available from the Virginia Film Office.