Economic Impacts of the Content Industry in Northern Minnesota
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Economic Impacts of the Content Industry in Northern Minnesota
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2023
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University of Minnesota Duluth
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Report
Abstract
For more than 30 years, the Upper Midwest Film Office (UMFO) has been helping attract and integrate film and content production in Northeast Minnesota. Currently, UMFO is working on several issues including increasing the incentives provided to the film and content industry, developing the region’s industry-specific workforce, and building the capacity for regional soundstage construction.
For purposes of wanting to educate policy makers and the broader public on the importance of the burgeoning film industry, UMFO contacted the Bureau of Business and Economic Research (BBER) at the University of Minnesota Duluth’s Labovitz School of Business and Economics to study the industry’s economic impact in St. Louis County.
The BBER estimated the economic impacts of the film industry for 2022 as well as three future scenarios that might occur if the rebate limit was increased and St. Louis County saw significant growth in its film industry.
In 2022, the film industry spent just over $3.0 million in the county. Our small-growth scenario assumed an increase in the rebate limit to roughly $3.25 million, which could allow for $13.0 million in spending on the part of the industry in the county. A medium-growth scenario assumed a $6.25 million rebate limit and $25.0 million in industry spending, while a large-growth scenario assumed a limit of $12.5 million and $50.0 million in local spending on the part of the film industry.
In addition to the four growth scenarios, a fifth scenario—soundstage construction—assumed a one-time, temporary impact from the construction of a soundstage, something that UMFO has indicated would be necessary to support growth in the industry.
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Haynes, Monica; Chiodi Grensing, Gina; Perry, D'Lanie; Hopkins, Erin; Nadeau, Kenny. (2023). Economic Impacts of the Content Industry in Northern Minnesota. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/252449.
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