HELENA, Montana: Film and television production companies have spent a whopping $334 million in Montana over the past two years, according to data provided to state lawmakers.

These significant investments are largely due to television productions, including the popular “Yellowstone” franchise, which alone accounted for $275.7 million of total spending between July 2022 and May 2024.

Gina Lavery, an analyst at Econsult Solutions, Inc., presented these results, pointing to the notable growth in spending compared to previous years. “These numbers are double what we saw in the previous cycle, which makes sense given the number of major television series filmed here,” said Lavery.

The spending breakdown includes about $60 million earmarked for salaries for Montana employees. These film and television activities directly created 510 full-time jobs in Montana and indirectly created another 810 jobs. Local production spending totaled $90.4 million, while the largest portion, $184 million, was spent on Hollywood talent.

Statewide, 37 Montana counties were involved in 167 different productions over the two years. While television programming was the main driver, independent films contributed $35.3 million to economic activity.

Lavery's report was submitted to the Legislative Interim Revenue Committee and assessed the impact of Montana's $24 million film tax credit program.

This program has been in place since 2019 and is available through 2029. It offers a number of incentives: a 25 percent tax credit for hiring crew members in Montana, 15 percent for crew members who are not Montana residents, 30 percent for Montana university students working for college credit, and 20 percent for actors, directors and writers.

Senator Paul Fielder, a Republican from Thompson Falls, questioned the need for the tax credits. “Without tax credits, there would still be film productions here. The question is whether the economic benefits would simply be less,” Fielder said.

There have been fears that some productions might relocate once Montana's tax incentives are exhausted. For example, production of the “Yellowstone” prequel “1923,” starring Helen Mirren and Harrison Ford, was reportedly moved from Butte to Texas because of more favorable tax incentives.

Lynn-Woods commented on the situation: “It would have been easier for them to stay in Butte until the end, but because our tax incentives were exhausted, there was no guarantee for them here.”

In Montana, tax credits are only available if producers provide documentation of their expenditures. Future availability is subject to projections. The total net loss to state revenue from these tax credits is estimated at $6.2 million.