Production companies will have financial incentive to film movies and television shows in Oklahoma City after the city council approved a new bond program Tuesday.

Riding the wave of the new Oklahoma film rebate signed into law last May, the goal of the Oklahoma City Film Incentive Program is to boost the city's film industry and generate sales tax. Companies can receive 5% rebates on qualified expenses in Oklahoma City, such as hotel rooms, restaurants, catering, construction, photography, editing, and other costs approved by the city.

The program offers increased incentives, up to a 10% rebate, for productions using local soundstages, contracting and purchasing from diverse businesses and vendors, conducting post-production activities in the city and hiring Oklahoma City residents as more than 50% of the crew. Projects also could receive the state film incentive, which is at least a 20% rebate of qualified spending in Oklahoma. 

Read the full story on NewsOK.com.