Savannah's Film Incentives: A Game Changer for Real Estate and the Local Economy
Savannah, Georgia, has long been a sought-after destination for filmmakers, with its picturesque streets, historic architecture, and welcoming Southern charm. Now, with enhanced film and television incentives, the city is positioning itself as an even more attractive hub for the entertainment industry. These new incentives aren’t just a win for filmmakers; they have the potential to drive significant economic growth—particularly in the real estate market.
Boosted Incentives: A Magnet for Film Productions
According to a recent report by Stephen G. Weizenecker of Barnes & Thornburg LLP, Savannah has increased its local film incentives, now offering up to $175,000 for feature films and $300,000 for television series. Additionally, productions hiring at least 50% of their crew within a 60-mile radius of Savannah City Hall can receive a $25,000 bonus. These enhanced rebates, stacked on top of Georgia’s already lucrative state tax credits, reinforce Savannah’s status as a premier filming destination.
With Georgia ranked as one of the top filming locations in the U.S., behind only California and New York, Savannah’s increased incentives will likely attract even more high-profile projects. In turn, this influx of productions will have a cascading effect on multiple sectors of the local economy, including housing.
Real Estate: A Beneficiary of Hollywood’s Investment
The film industry doesn’t just bring cameras and crews—it brings people, jobs, and demand for housing. As more productions choose Savannah, we can expect to see increased demand for short-term rentals, corporate housing, and long-term residences for industry professionals relocating to the area.
Short-Term Rentals and Airbnb Boom
Film crews and cast members often need housing for weeks or months at a time, driving up demand for short-term rentals. Homeowners and investors have an opportunity to capitalize on this trend by offering furnished rentals catered to industry needs. With the rise of Airbnb and other vacation rental platforms, properties in prime filming locations will likely see higher occupancy rates and rental income.
Increased Demand for Long-Term Housing
As Savannah solidifies its reputation as a filming powerhouse, more professionals in the entertainment sector—including directors, producers, and post-production specialists—may choose to relocate permanently. This trend could contribute to rising home values, increased construction of new housing developments, and heightened interest in historic renovations.
Job Creation and Economic Growth
Beyond housing, an uptick in film and television production translates to more jobs and economic stimulation. Local businesses—including restaurants, construction companies, and retail stores—will benefit from the increased spending associated with large-scale productions. Additionally, film studios and production facilities may seek to establish a stronger presence in the region, further fueling the local job market and real estate sector.
Now Is the Time to Invest
For homebuyers, real estate investors, and industry professionals, Savannah’s evolving role in the entertainment sector presents a unique opportunity. Whether you’re considering purchasing a rental property, selling your home to relocating industry workers, or simply benefiting from the economic growth, now is the time to act.
As a seasoned Realtor and licensed mortgage loan officer, I can help you navigate Savannah’s dynamic market. Whether you’re looking for your dream home, an investment property, or financing options, I’m here to provide expert guidance.
Ready to make the most of Savannah’s Hollywood moment? Contact me today to explore your real estate opportunities in this thriving market!
Dave Wright
Realtor & Mortgage Loan Officer
SavannahSouthernHomes.com
