Dark Horse Recording
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Recording Academy Helps Bring New Tax Incentives For Music Scoring To Tennessee
New incentives to bring music scoring business to Tennessee were announced on Nov. 20 by the Tennessee Entertainment Commission and the Recording Academy, offering some enticing reasons to soundtrack your next film in the Volunteer State. For projects above a professional cost threshold, qualified expenses can receive rebates of 25 percent.
"As the home to so many talented working music creators, this new incentive further emphasizes Tennessee's dedication to music and the composers who create some of our favorite soundtracks," said Daryl Friedman, the Academy's chief industry, government & member relations officer.
As detailed at the TEC website, this new grant refund program applies to projects that spend more than $50,000 in primary markets or more than $25,000 in the state's many secondary markets, using qualified TN vendors. Leaders from the Recording Academy's Memphis Chapter and Nashville Chapter worked with the Commission to ensure that these parameters would serve their professional purpose.
"It only makes sense for us to leverage Tennessee's unparalleled concentration of music talent and production services to attract additional music scoring projects," said Bob Raines, TEC's executive director. "As Tennessee attracts more scoring projects through TEC's new program, it will allow our creative class and content creators to showcase their superb quality to audiences across the globe."
— TN Entertainment (@tnentertains) November 15, 2018
Tennessee has the highest concentration of music professionals in the U.S. and the second highest concentration of sound engineers. Nearly 1,100 businesses in Tenn. employ more than 6,725 recording industry workers.
"Scoring has been a growth sector of Tennessee's music industry in recent years," said Raines. "It is our goal to make Tennessee the No. 1 destination for these types of media projects." As digital media expands and diversifies, soundtrack work has expanded beyond movies and TV shows to video games and new forms of digital media.
While this is the first music-focused incentive of its kind for the state, TEC and the Recording Academy are in partnership advocating for new worthy programs.
"We have state-of-the-art studios, producers, engineers, composers, arrangers, and players," said John McBride, the owner of Nashville's Blackbird Studio. "This city has world-class production capability and we need to show the world." His statement applies to first-class facilities, expertise and talent across the state as well.
With more scoring business attracted by these new incentives, the next few years should bring plenty of new recording projects for Tennessee to boast about. How's that for running up the score?