PRESS RELEASE

published: May 09, 2013 - for immediate release

Effective Today: S.C. Doubling Film Incentives S.C. Governor Nikki Haley signed into law the new South Carolina Motion Picture Incentive Act, a bipartisan effort that doubles some of the rebates for Film/TV production costs in South Carolina, effective May 09, 2013! The new act - Senate Bill S163, sponsored by Senator Campbell (R-Berkeley) makes South Carolina's film incentives very competitive with its surrounding states. In recent years, Georgia and North Carolina have lured productions away from South Carolina with bigger incentives. The new legislation increases the existing film incentives as follows:    South Carolina Vendors: from 15 percent rebate to 30 percent South Carolina Wages: from 15 percent rebate to 25 percent Non-Resident Wages: from 15 percent rebate to 20 percent

To qualify, productions must spent $1M in South Carolina and wage rebates are capped at $1M per individual (resident and non-resident wages). South Carolina's new Motion Picture Incentive act also offers Sales & User Tax Exemption to qualifying productions, which can range between 6.5% to 13.5%. This averages at about $400,000 in additional savings for each $5M spent with South Carolina vendors - a HUGE BONUS!!! Being a cash-rebate, the full amount is paid to the production within 35-45 days after final location audit, which is provided FREE OF CHARGE by the Film Commission. "This legislation will bring productions back to South Carolina, create hundreds of jobs for South Carolinians and millions in spending at local businesses, as well as new opportunities for individuals and small business owners" said Harald Galinski, founder of Studio Charleston, a 70,000 SF production facility designed to accommodate large film productions. "Our facility has been home to productions, such as Relativity Media's Dear John, which employed over 250 crew members and without this legislation, we would have not been able to continue staying in business!" South Carolina now offers competitive film incentives in combination with a permanent production facility and the support of a Film Commission that has been helping filmmakers under its official slogan "More for Your Movie", since 1980. Published by: Studio Charleston, LLC Contact Information: Studio Charleston 620 Dobbin Road | Charleston, SC 29414 p 843.376.1190 | e info@studiocharleston.com | www.studiocharleston.com