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100% ROI on Film Tax Credits?

7/15/2009 12:23:00 AM
I could have sworn that I read an article a month or two ago saying that the tax credits that the state was giving for all the movies filming here was not a good investment. But just recently, I happened upon another article that says it's actually doubled the state's investment.

Production activity generated $16 million worth of tax credits in 2006, $38 million in 2007 and $113 million in 2008 (the tax incentives were sweetened in mid-2007, accounting for much of the increase). That translates into $167 million in tax credits that the state has awarded in the program’s first three years.

The state has essentially doubled that $167 million investment, with local spending on wages, transportation, hotels, set construction and other expenses totaling an estimated $302 million over the three-year period.

I think in the end it comes out to be a math problem. I'm sure this report may count things that other folks would argue shouldn't be counted. But ultimately, I'm psyched because that means more movies to be filmed in MA.

PS. Who's heading to The Fighter filming today (here)? I'll be there.

Click (here) to read the article.

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