Economic Impact of Potential Improvements to the Illinois Film and Television Production Services Tax Credit Assessed by SPI

Olsberg•SPI (SPI) conducted a study for Cinespace Studios and The Fields to evaluate the potential economic impact of an expanded Illinois Film and Television Production Tax Credit incentive. This study builds on a previous report by SPI for the Illinois Production Alliance (IPA), which found that further industry growth could be achieved through targeted improvements to the tax credit.

This latest study presents projections of Illinois production investment and impact under the existing incentive, and in relation to proposed improvements to the base credit and a new studio uplift modelled to take place from FY2026. The studio uplift would provide additional value to productions substantially filmed in qualified production facilities in Illinois.

For the evaluation, SPI undertook a multi-year analysis, covering the FY2025-FY2030 period, including an examination of the economic return on investment, along with the direct, indirect and induced economic impacts. The analysis also includes an effective rate analysis of the proposed revisions to the incentive.

Download SPI’s Projected Economic Impact of an Expanded Illinois Film Production Services Tax Credit here.

Further information on SPI’s economic impact studies here.

Contact SPI Senior Economist Meera Sadier for more information on this study: meera@o-spi.com