By Eileen Tilson
An interesting article was in the Atlanta Business Chronicle‘s SaportaReport today. Tammy Hurt, co-founder of the Georgia Music Partners, explains just how, if their initiative passes, the Georgia music community will benefit financially. A study recently done for the “Economic and Fiscal Impact Analysis of the Music Industry in Georgia,” recently published by noted Ph.D. in Economics, B. William Riall, also put state and local government tax receipts at $314 million. That is certainly proof that in Georgia, the music industry is still very healthy.
The issue is that Georgia talent is leaving the state, simply because it is cheaper to do their work elsewhere. For example, Louisiana’s music credit incent our own R.E.M. to record in New Orleans, rather than in Athens or Atlanta.
“Georgia Music Partners and The Recording Academy® Atlanta Chapter (aka GRAMMY organization) are working together to protect and grow the state’s music business. There are a number of strategies under consideration and a number of opportunities for growth.
Here are a few:
a) For businesses that operate recording studios, they are recommending a “retooling” credit so they can outfit their studios with the most up-to-date, state of art technology, which will help them stay competitive. Look for ways to incent recording artists to come to Georgia to record their music, which will ultimately bring studios more business.
b) For musicians and songwriters, the more projects attracted, the more opportunities there are to work, to play and to be published.
c) Digital music technology companies such as Shazam and Spotify are a segment of the industry wanted to be attracted to the state. The film and TV tax incentives currently in place are directly responsible for bringing 20 supply-chain companies to Georgia. GMP plans to promote a similar campaign to attract global investment dollars to Georgia for music-based technology companies.
d) Positioning Georgia as a leader in music ultimately increases tax revenue and creates jobs, and there have been preliminary discussions about the possibility of creating economic empowerment zones for music businesses in the city of Atlanta and around the state.”
Georgia Music Partners is currently in a Capitol campaign and needs your help — join, sponsor or volunteer today :
Category: Atlanta Music News