Make no mistake, the film industry has arrived in Georgia. While our state has always been a popular location for feature film, television movies and television series, the industry took off like a rocket after the first point of purchase sales and use tax exemption was introduced in 2002, with subsequent updates in 2005 and 2008. Georgia is now the most popular state to shoot feature films, surpassing California in 2016.
Today the Georgia Film, Music & Digital Entertainment Office estimates the industry brings an economic impact of over $9.5 billion, employing more than 5,000 individual technicians and other workers in the state. Facilities like Turner Studios, Tyler Perry Studios, EUE/Screen Gems have helped lead the way, but the arrival of Pinewood Studios in 2014 has brought a number of high budget, large production films.
That kind of growth here in the Southern Crescent really begs for further economic development and developers have answered the call with a new 234-acre mixed use development named Pinewood Forest. Opening in late 2019, the area will feature a boutique hotel, a variety of dining options, retail, office space a 60,000 square foot wellness center with integrated healthcare components. Single family homes are already available in the surrounding areas with the demand for more driving even more new construction.
Studies show that mixed use facilities of this kind are great investments for surrounding communities. The walkability aspect offers residents savings on fuel that can be spent elsewhere while the lower infrastructure costs and increased tax revenue help local municipalities grow in sync with the communities they serve.
As the Southern Crescent positions itself as the center of “Y’allywood,” now is the time to prepare for—and be a part of—metro Atlanta’s next big economic development project. Business owners who hope to find their place in this new growth need the right products and local banking expertise to help navigate the local economy. Heritage Bank offers lending services for small businesses (SBA loans) as well as commercial real estate and construction lending services uniquely tailored for our growing community.
Our lending agents live in the communities they serve and understand the dynamics of the local housing market better than anyone. For residents looking to invest in a home in the area, our agents can help you finance the home of your dreams. If you already live in the area, now might be the time to consider refinancing at a lower rate.
Whether you intend to introduce your business concept to the Southside or intend to star in the next big superhero action movie, now is the time to start planning for the future. Heritage Bank has been here for over 60 years and stands ready to help ensure you are prepared for the next big episode of your business or personal life.
Edward L. Taylor Jr currently serves as a Clayton County Business Banker with Heritage Bank. With over 15 years of experience in the banking industry, Ed can provide you with the best business products and services to serve your needs now and well into the future.
Vice President Business Banker • 770-515-7032 • [email protected]