The Music Investment Act offers tax breaks to music companies that come to Georgia (Source: WALB)
Mario Meadows said its a great move for the state (Source: WALB)
Meadows owns Platinum Sound in Albany (Source: WALB)
ALBANY, GA (WALB) -
Georgia is hoping to create a name for itself in the music industry.
House Bill 155, known as the Georgia Music Investment Act, was signed by Gov. Nathan Deal in May. It'll go into effect next year. The law aims to build the state's music industry by offering refundable tax incentives to music production companies.
Live music productions or projects recorded or scored in the state will get a 15 percent tax credit.
Companies that produce work in more rural parts of Georgia are eligible to receive an additional 5 percent credit.
Mario Meadows owns Platinum Sound Recording Studio in Albany.
He said he hopes the tax breaks will attract big name music companies to the state. He said it'll create more jobs and develop Georgia as the place to make music.
"I could see it boosting revenue for independents and major labels," Meadows said. "And I could also see the major labels that are based in New York, that will be an incentive for them to come to Atlanta, probably, you know."
The Music Investment Act will go into effect in January of 2018.