Louisiana continues the almost criminal waste of money by subsidizing film companies to make their crappy movies in the state. Through a program begun in 1992 and greatly expanded in 2002, the state has paid out over one billion dollars to film companies. In addition the state has provided funds to entertainment groups.
The state issues tax credits and even pays 30 per cent of the cost of making a film. And the cost to the state has steadily increased, costing 179.5 million in 2011 and 26l million in 2012. In defense of the giveaway, some call the program successful because the number of films made in the state has increased. But what has been the economic benefit? Very little, just a few temporary jobs.
A handful of wealthy people in Louisiana do benefit. If a company can't use all its tax credits, it is allowed to sell them to other companies or to individuals. With $10,000 being the minimum for the credits, only the wealthiest can utilize the credits.
Other states have similar programs to entice movie makers, but nine, including Arkansas, are doing away with or suspending the programs.
We can understand teenagers being seduced by Hollywood and entertainment, but professionals and businessmen should act like competent adults. Is that too much to ask? Probably so.
The state issues tax credits and even pays 30 per cent of the cost of making a film. And the cost to the state has steadily increased, costing 179.5 million in 2011 and 26l million in 2012. In defense of the giveaway, some call the program successful because the number of films made in the state has increased. But what has been the economic benefit? Very little, just a few temporary jobs.
A handful of wealthy people in Louisiana do benefit. If a company can't use all its tax credits, it is allowed to sell them to other companies or to individuals. With $10,000 being the minimum for the credits, only the wealthiest can utilize the credits.
Other states have similar programs to entice movie makers, but nine, including Arkansas, are doing away with or suspending the programs.
We can understand teenagers being seduced by Hollywood and entertainment, but professionals and businessmen should act like competent adults. Is that too much to ask? Probably so.
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