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Economic Impact

 

ECONOMIC IMPACT:

Since it was founded in 2000, Austin Studios has been the home to more than 235 media productions, which includes over 80 feature films and television shows. These productions have had an economic impact of $1.35 Billion on the Austin economy, creating more than 8,000 jobs for local residents and providing a solid tax base for the city. This economic engine manifests itself across a wide range of film and production-related services, including casting, carpentry, transportation, catering, equipment rentals and wardrobe, just to name a few. This industry puts hundreds of real people to work year-round, driving the Austin economy.

In 2006, Austin Studios received $5 Million in City of Austin bond funding and another $1 Million from Austin Energy, which was used to convert airplane hangers into sound stages by installing HVAC, electrical and soundproofing upgrades. As a result of these facility improvements, productions like TRUE GRIT and "The Lying Game" were lured to Austin. Since the improvements were completed in 2009, Austin Studios has generated $300 million in economic impact from that $6 Million bond.

The City of Austin continues its support of Austin Studios today, as evidenced by two strategic initiatives that align with key goals in the Create Austin Cultural Master Plan. First, City of Austin voters approved a $5.4 Million bond package in November 2012, which will help renovate Austin Studios’ facilities into even more productive space for film and creative media. Second, Austin Studios extended its space portfolio in March 2013 through the acceptance of the 75,000 square foot former National Guard Amory Building (NGB) as part of its lease with the City of Austin.

As Austin Studios grows, so to will its economic impact. Read more about Austin Studios Expansion plans here.