In case you didn’t notice, film is big in Atlanta. Really big. Thanks in part to generous tax incentives now offered by the state, the Atlanta film industry has mushroomed into a contender on the world stage over the years. In fact, the Atlanta Business Chronicle recently reported that Georgia hosted no less than 17 major feature film productions in 2016, making it the top location in the world last year for film production, even over mainstays like Los Angeles and New York. Among the most notable titles filmed include “Passengers,” “Allegiant” and “Guardians of the Galaxy 2,” — not to mention ongoing series like “The Walking Dead,” “Halt and Catch Fire,” and the recent Netflix hit series “Stranger Things.”
This film and TV production boom is paying huge dividends for Atlanta’s economy. Most people automatically gravitate toward the film tourism element or the dollars that pour into local businesses when production crews come to town. Additionally, this burgeoning industry is having a sharp, positive impact on the city’s real estate market. Here are a few ways in which Atlanta’s film industry is strengthening the housing sector:
Increase in Production Facilities
The Atlanta film industry typically relies on local talent and production houses to fill out their crews, thus increasing demand for permanent facilities and creating a boon in the job market for skilled industry personnel, such as camera crews and grips to production design, production assistants, editors and more.
This increased demand for production and post-production houses and staff benefits the Atlanta real estate market in two ways: first, the businesses themselves need places to do business, leading them to build new structures or revitalize existing ones (Atlanta-based production company, POPfilms, for example, now occupies a former Staples distribution warehouse). Second, the employees manning these facilities need places to live, and for anyone living in Atlanta longer than 18 months, it makes more economic sense to buy a home than to rent one.
Better Quality of Life for Industry Professionals
Atlanta’s relatively low cost of living is having a reciprocal effect on the local film industry, which in turn is further fueling the real estate market. As the film industry continues to grow, it’s attracting greater numbers of actors, producers, cinematographers and film crew to the area — not just because of the available work, but also because the value of the dollar is stronger Atlanta. They see our city as a place to enjoy a higher quality of life within their chosen profession, as opposed to more expensive places like Los Angeles or New York.
Increase in Educational Opportunities
As the job market opens up for film and TV-related positions, so does the need for industry-relevant training programs and education — and Atlanta schools are stepping in to fill the need. At last count, there were more than a dozen schools offering some sort of film training, including SCAD Atlanta, Georgia Film Academy, Film Connection, The Art Institute of Atlanta and the Film Studies program at Emory University.
As these programs gain popularity, they’re attracting larger numbers of educators who need a residence. Likewise, many of the students in these programs will eventually desire to buy within the market upon graduation.
Overall Economic Boost
In the influx of millions of dollars into Atlanta businesses, per the film industry, boosts the local immensely economy. As a result, many Atlantans are experiencing greater levels of economic stability for their jobs and businesses. This dynamic is enabling people to bridge the gap between renting and buying, advancing the housing market even further.
Day by day, it’s becoming more apparent that the Atlanta film industry isn’t just an anomaly — this industry is here to stay. We’re proud that the city is attracting talented people from throughout the film community, and we believe our city is a great place to call home. To learn more about available homes in the Atlanta area, call Atlanta Fine Homes Sotheby’s International Realty today at 404.948.4812.