MADISON, Wis. – Sen. Patrick Testin (R-Stevens Point) has introduced bipartisan legislation that attempts to encourage more video game production companies to locate in Wisconsin.
According to the latest data from Statista Market Insights, the worldwide video game industry is forecasted to grow at an annual rate of 7.65 percent from 2025 to 2029, with a projected market volume of $691.31 billion by 2029. The United States alone is on pace to generate $141.84 billion in video game revenue this year.
“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,” Sen. Testin said. “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.”
Sen. Testin is hoping to accomplish that objective with Senate Bill 204, which authorizes the owner of a copyright in digital interactive media or entertainment to obtain a refundable income tax credit equal to 30 percent of the salary or wages paid for applicable services rendered in Wisconsin.
The legislation also includes a 30 percent tax credit for eligible expenditures made in the state directly related to developing, producing or creating a video game product.
Senate Bill 204 has been referred to the Senate Committee on Agriculture and Revenue where it is expected to get a public hearing in the coming weeks.
