Thinking about starting up your own video game development studio? The the Peach State is looking for you.

On Monday, Georgia Governor Sonny Perdue signed into law the state's proposed 2008 Entertainment Industry Investment Act, designed to encourage entertainment industry productions in Georgia. The new law reinforces and strengthens Georgia's position within the entertainment industry by offering a 20 percent tax credit for qualified productions. These productions will then be eligible for an additional 10 percent tax credit simply by including an animated Georgia promotional logo within the finished product. As outlined in the new law, these incentives apply not only to qualified films, TV series, commercials and music videos, but also to video game productions.

"This new incentive allows Georgia to once again compete for an industry we used to be famous for," said Sen. Mitch Seabaugh. "It will be a catalyst that will spur immediate economic investment and create jobs. Georgia will once again be on center stage where it belongs."

"The new incentives will put Georgia among the top five states in the U.S. in terms of financial competitiveness for entertainment projects," said Ken Stewart, commissioner of the Georgia Department of Economic Development (GDEcD). "We expect to see an increase in the number of industry jobs and overall economic impact for the state in the coming years."

This isn't the first time Georgia has seen success with a tax incentive for the entertainment industry. According to the Governor's office, the state's 2005 Entertainment Industry Investment Act led to a record-setting economic impact in 2006 when film, television, and video game companies contributed $475 million to Georgia's economy, up from $124 million in 2004.

"The 2008 Entertainment Industry Investment Act will return Georgia to its rightful place of prominence in all major entertainment industry segments," stated Bill Thompson, deputy commissioner of the Film, Music and Digital Entertainment Office, a division of GDEcD. "We expect a significant increase in film and television projects, and Georgia will be the most competitive state in the country for video game productions. Georgia is one of the few states whose entertainment incentives support the video game industry."