ATLANTA--(BUSINESS WIRE)--Georgia Music Partners (GMP) and more than 200 music-related businesses applaud the passage of the Georgia Music Investment Act (House Bill 155). The bill passed the Georgia House of Representatives 157–11 and the Georgia Senate 46-7, thanks especially to the leadership of Representative Amy Carter (R – Valdosta) and Senator Jeff Mullis (R – Chickamauga). HB-155 is expected to create thousands of new job opportunities for Georgia’s diverse music industry — currently $3.7 Billion economic impact — just as other tax incentives have expanded Georgia’s film, TV and video game industry to more than $7 Billion. The bill will now travel to the desk of Georgia Governor Nathan Deal for his signature.
While GMP has been a champion and advocate of this incentive for nearly eight years, support has truly rallied in recent months with the support of wide-ranging businesses inside Georgia and outside the state and country. Supporters include: The Recording Academy Atlanta Chapter, RIAA (Recording Industry Association of America), NAMM (National Association of Music Merchants), AES (Audio Engineering Society), Music Business Association, Sound Diplomacy, Guild of Music Supervisors, Zac Brown’s Southern Ground, Philips Arena, Georgia Chamber of Commerce, Metro Atlanta Chamber of Commerce, Decide DeKalb, Kennesaw State University’s Joel A. Katz Music and Entertainment Business Program, Macon Pops, Atlanta Symphony Orchestra, AspireTV, Ticket Alternative, Smith’s Olde Bar, Silent Sound Studios, Augusta Entertainment Complex, Hendon Properties, Monarch Private Capital, Barnes and Thornburg, Bennett Thrasher and many more.
The Georgia Music Investment Act, HB-155, is a 15-20% incentive that will incentivize recording and scoring projects as well as live tours from around the country and the world to rehearse and start in the state. To qualify, a production company must meet a minimum threshold of $500,000 for live performance rehearsals, $250,000 for stand-alone scoring projects (aggregate in a year) and $100,000 (aggregate in a year) for recorded music performances. If the production takes place in lesser developed Tier 1 and Tier 2 counties, it can qualify for the additional 5% credit.
“This incentive is the missing link for our state’s music industry to truly flourish. The music business has already contributed so much to our great state, but I am now looking forward to watching this tax incentive create job opportunities while simultaneously rebuilding the music ecosystem in Georgia,” said Senator Mullis. “The Georgia Music Investment Act will lead the way in attracting investment in Georgia from around the world.”
“It’s no secret that the roots of music in Georgia go back generations … we represent all genres, from classical and rock, to hip hop and rap, to jazz and bluegrass — Georgia has it all,” said Georgia Music Partners President Tammy Hurt. “It is extraordinarily gratifying to see music creators, educators, lawmakers and businesses — inside and outside the state — united behind the first-ever targeted incentive for music in Georgia. If utilized to its fullest extent, HB-155 will be a total game changer for our music industry.”
The bill was sponsored by Rep. Amy Carter (R – Valdosta). Co-sponsors are Rep. Bert Reeves (R – Marietta), Rep. Matt Hatchett (R – Dublin), Rep. Spencer Frye (D – Athens), Rep. Lee Hawkins (R – Gainesville), Rep. Ron Stephens (R – Savannah) with support from Sen. Jeff Mullis (R – Chickamauga).
About Georgia Music Partners
Georgia Music Partners (GMP) is the authority that grows and improves the music economy in Georgia. GMP encourages the state’s musicians, music professionals, educators and legislators to work together to further develop Georgia’s music industry through creativity and innovation. GMP is actively engaged with educators, local and state governments, business organizations, and music business leaders in pursuit of cooperation that promotes growth for all stakeholders. Through these partnerships, the organization seeks to develop programs, which enable the state to better market the music business in Georgia, and works to attract investment dollars for music technology companies to headquarter in the state. GMP seeks not only to sustain the music industry, but also holistically grow Georgia’s economy.