State and local government leaders are very hopeful that ABC's Nashville will remain in its namesake city for its upcoming fourth season.

Tennessee Gov. Bill Haslam's administration has set aside a budget of $8 million toward helping the show defray its production costs if it continues to film in Music City, while Nashville Mayor Karl Dean has earmarked at least an additional $500,000 in funding from Metro.

According to Nashville's The Tennessean newspaper, the tourism Nashville draws to the city generates tax dollars that more than make up for the government's investment. A fact sheet drawn up by a representative from the show states that Nashville also spends around $20 million each year on employing local production talent and labor.

"Discussions are continuing as to the appropriate level of local funds to support the show, including from Metro Government, the Convention and Visitors Corp. and the city's Event and Marketing Fund," says Dean spokeswoman Bonna Johnson. "This continued investment in the Nashville show is recognition that it benefits our local economy, has generated worldwide attention for our city and state, and is opening doors to further grow the film and television industry here."

Metro contributed a $1 million grant for the show's third season, with an additional $500,000 each from the city's event marketing fund and the Convention and Visitors Corp. CVC President and CEO Butch Spyridon says their incentive offering will likely be reduced for the new season, though he thinks the city's investment in the production has been worthwhile.

ABC announced it has renewed Nashville for a fourth season on Thursday (May 7).