Governments compete to attract film productions to their communities, expecting them to provide economic benefits directly through local purchases and employment and indirectly through publicity and image building. Atlanta, Georgia, has become a large film production hub, partially because of a state tax credit programme. As a result, permanent production facilities have been established that may influence surrounding real estate prices. Convenience and a desire to live among other creatives may encourage actors, technical workers and support staff to live nearby, and the film industry cachet may attract additional residents, increasing house prices. However, if the facilities are perceived to be similar to other industrial operations, they may negatively affect surrounding house prices. We investigate film production studios’ effect on residential property values using housing sales data and information on film production studios’ location, size and year established. To mitigate bias from the potential endogeneity of studios’ location choices, we augment the standard hedonic pricing framework to incorporate proximity to a film production studio and construct treatment and comparison groups. Using a spatial difference-in-difference framework, we find that while houses located closest to film production studios tend to sell for lower prices than houses further away, the discount is not attributable to the studios. Instead, the establishment of a new studio, especially a large one, is a positive event in the housing market. These findings have important policy implications for local governments in making decisions about film industry incentives and facilities’ site selection as possible drivers of redevelopment.

政府竞相将电影作品吸引到他们的社区，期望他们通过本地采购和就业直接提供经济利益，并通过宣传和形象建设间接提供经济利益。佐治亚州的亚特兰大已成为大型电影制作中心，部分原因是州税收抵免计划。因此，已经建立了可能影响周围房地产价格的永久性生产设施。与其他创意人一起生活的便利性和愿望可能会鼓励演员、技术工人和支持人员住在附近，而电影业的声望可能会吸引更多的居民，从而提高房价。然而，如果这些设施被认为与其他工业运营相似，它们可能会对周围的房价产生负面影响。我们使用房屋销售数据和有关电影制作工作室的位置、规模和成立年份的信息来调查电影制作工作室对住宅物业价值的影响。为了减轻工作室地点选择的潜在内生性的偏见，我们增加了标准的享乐定价框架，以纳入与电影制作工作室的接近程度，并构建处理和比较组。使用空间差异框架，我们发现虽然离电影制片厂最近的房子的售价往往低于更远的房子，但折扣并不归因于制片厂。相反，新工作室的成立，尤其是大型工作室的成立，是房地产市场的积极事件。