Gov. Jared Polis on Tuesday signed into law a bill that is expected to provide the Sundance Film Festival with a $34 million refundable state income tax credit following its planned move to Boulder in 2027.
The tax break was part of Colorado’s successful bid to host the country’s largest independent film festival. Sundance is expected to draw tens of thousands of visitors to the area each winter, boosting revenue for local businesses and raising Boulder’s profile as a destination for international arts and culture.
Read: Boulder lands Sundance Film Festival, promising economic boost and cultural spotlight
“Colorado is the best state for film and television artists, and I am thrilled today to sign this bipartisan law to support our growing film industry in Colorado that is captivating audiences, supporting hard-working Coloradans, and strengthening our tourism and economy,” Gov. Jared Polis said in a statement.
It remains unclear what Sundance’s arrival will mean for the Boulder International Film Festival, which has operated for about two decades and typically takes place in March, shortly after Sundance.
The new law also creates a $500,000 annual tax credit for smaller film festivals in Colorado, available from tax years 2027 through 2036.