Jun 11, 2024 - News

Miami wants more movie magic. New funding may help

MIAMI, FLORIDA - JUNE 05: Will Smith and Martin Lawrence attend the Bad Boys: Ride Or Die Miami Premiere on June 05, 2024 in Miami, Florida. (Photo by Manny Hernandez/Getty Images)

Will Smith and Martin Lawrence at the "Bad Boys: Ride or Die" Miami premiere. Photo: Manny Hernandez/Getty Images

Miami has been consumed with "Bad Boys" hype for months.

Why it matters: It became rare to see Hollywood filming in Miami, but now the county hopes the buzz around "Bad Boys: Ride or Die" can become the new normal.

State of play: Miami-Dade County last month announced a film incentive program to lure major productions back to the Magic City.

Context: Florida allocated nearly $300 million in tax credits to production companies filming in the state between 2012–2016.

Stunning stat: Film Florida, a nonprofit advocacy organization, says the state has lost over 100 major film and TV series due to a lack of incentives, according to the Tampa Bay Times.

How it works: The county's new High Impact Film Fund Program will provide up to $50 million over the next five years through a cash rebate of up to 20%.

  • Backers say the program — which claims to be the largest of its kind in Florida — will create jobs, help local businesses and promote tourism.

What they're saying: "The main concern I always hear from producers to artists to crew personnel is the lack of a real incentive," Miami-Dade Film Commissioner Marco Giron said in a press release.

  • "The program will begin to position Miami-Dade as a global destination for major film and television production."

The other side: Variety reports that the incentive program — which has a $10 million annual cap — may be suitable for TV series and higher-end low budget films, but is unlikely to attract big-budget "tentpole" movies.

  • Critics of Florida's film incentives have called the tax credits "corporate welfare."
  • They cite a state study showing the return on investment for Florida's original program would bring 18 cents of revenue for every $1 spent by the state.

🐒 What we're watching: "Bad Monkey," a new show on AppleTV+ adapted from a best-selling Carl Hiaasen novel, was filmed in Miami and comes out Aug. 14.

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