In the August issue of Fiscal Notes, the Texas Comptroller’s office looks at two important drivers of the entertainment industry that have left their mark on the Texas economy in recent years: film and video gaming.
In 2022, more than 210 film, commercial and TV production companies had an economic impact of nearly $2 billion in Texas, while more than 190 video game companies contributed $5.5 billion.
“When you think about where movies and video games are made, California and New York may be the first places that come to mind,” Texas Comptroller Glenn Hegar said. “But Texas is an attractive alternative, with state tax incentives and grant programs playing no small role.
“Film and video game companies are blossoming in Texas not only because of our business-friendly tax and regulatory environment but also because of the Texas Moving Image Industry Incentive Program, a state-supported grant program that incentivizes film and video game projects to hire Texans and buy Texas goods and services — an obvious win-win.”
In this issue of Fiscal Notes, the Comptroller’s office also dives into the characteristics that help the U.S. Census Bureau and the U.S. Office of Management and Budget determine what areas are rural and what areas are urban. For decades, migration trends have favored urban parts of the state, which means rural Texas may be overlooked when it comes to government funding. But the 88th Legislature has backed substantial funding for rural-centered programs and initiatives aimed at priorities such as expanding high-speed internet, financing new water supply projects and supporting law enforcement.
Fiscal Notes furthers the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.
Fiscal Notes is available online and can be received by subscribing via the Comptroller’s website.
