Some good news out of Lansing yesterday, with Governor Granholm signing bipartisan legislation that moves Michigan to the front of the pack in attracting film producers to Michigan. The legislation contains a tax incentive of up to 42% for making movies in Michigan, and with the word getting out that Michigan was considering this legislation since the Governor’s State of the State back in January, our state film office has already received 84 scripts to consider (compared with just six for all of 2007). This is very much in line with the experience of other states who have been aggressive in attracting film industry investment, including New Mexico, which saw its film industry grow from $1.5 million to almost $500 million in annual investment, including a $100 million studio that employs up to 2000 people. Similarly, in the years since Louisiana passed a series of tax incentives aimed at the film industry, it has seen its annual take jump from $20 million to nearly half a billion dollars. Indeed, as I noted back in January, filmmaker (and Michigan native) Mike Binder has asserted that Michigan can become a national leader ”almost overnight” as a result of these incentives.

In addition to the direct investment the incentives will help spur, this is also good news from Michigan’s tourism industry, as more travelers will want to visit where these films are being shot, and it gives Michigan one more way to showcase the beauty and vibrancy of our state. In addition, this can’t but help our homegrown film festivals, including the Traverse City Film Festival, which is quickly becoming a national destination. (Both Absolute Michigan and metromode have listings and stories about the various film festivals around the state.)

Getting these incentives in place is crucial in attracting new film industry investment, and is an important step in diversifying Michigan’s economy. It’s also a nice shot in the arm for a state that hasn’t had much to celebrate recently.