(The Center Square) – If a video game production company wants to move from California to Wisconsin, Sen. Patrick Testin wants them to feel welcome.
Testin, R-Stevens Point, is proposing a 30% tax credit for both wages paid and expenses for companies in expenses relating to creating games or video game products.
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“While the hub for the video game sector is currently in California, many employers there have expressed an interest in leaving that state to expand their base and build additional studios,” Testin said in a statement. “It would be shortsighted for us not to try to tap into that market and bolster our state’s economy and establish more high-paying jobs for our residents.”
Testin pointed to industry data showing the industry will generate $141.8 billion in revenue in the United States this year with a forecast of growing market volume 7.65% annually from 2025 to 2029 until it reaches $691.3 billion.
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Senate Bill 204 has been referred to the Senate Committee on Agriculture and Revenue, where Testin says it will likely receive a public hearing.
The video game company would have to submit an application to the Wisconsin Department of Revenue and be approved for eligibility and then submit an audit of eligible expenses each year.