The State of Montana enacted the MEDIA Act Tax Credit program in 2020 to attract film activity to the state. Since 2020, the Montana Film Office has relied on ESI to evaluate the effectiveness of the credit. For the 2024 analysis, ESI evaluated how the tax incentives for film, television, and media production under the program have generated economic growth, job creation, and tax revenues since the program’s enactment.
ESI’s analysis drew on production spending data, resident and non-resident earnings data, and location-specific expenditures collected from the Montana Department of Commerce, the Montana Department of Revenue, and direct outreach to the media production community. Using this data, ESI developed an IMPLAN input-output model to generate estimates of direct, indirect, and induced economic impacts from film and media production activity in the state. ESI also conducted focus groups and interviews with industry stakeholders to capture on-the-ground experiences and operational challenges not fully reflected in administrative data.
The 2024 study estimates that from July 2022 through mid-May 2024, film productions generated a total economic impact of more than $312 million in Montana, supporting more than 1,300 full-time equivalent jobs with nearly $96 million in employee compensation. The film industry is estimated to have generated approximately $22 million in state and local tax revenues during this period. This analysis led to a recommendation to expand the tax credit program and enhance workforce development initiatives.