Posts Tagged Film Industry

Jul
13
2015

The Subsidy Show Goes on in Georgia

States are following different scripts on the contentious issue of film subsidies. Michigan, Florida, Louisiana and Massachusetts are cutting back while Georgia continues to deal out major incentives to the industry.

Aug
25
2014

North Carolina Puts the Brakes on Subsidy Spending but Moves Ahead on Privatization

[caption id="attachment_3796" align="alignright" width="256"]North Carolina State Capitol. Image by Abbylabar (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons North Carolina State Capitol. Image by Abbylabar (Own work) [CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons[/caption]

For the past decade, North Carolina has spent heavily on subsidies, abandoning its previous economic stinginess. In an encouraging new reversal, the Tar Heel State is returning to its old ways. In a just completed short session, the state legislature took two important steps to limit giveaways: it ended one of the country's biggest film tax credit programs and it defeated a proposal by Gov. Pat McCrory and Secretary of Commerce Sharon Decker to create a deal-closing slush fund. The defeat of the fund also meant the rejection of an expansion of several existing subsidy programs and a special deal for a paper mill.

Not everything coming out of the session was positive. Lawmakers moved ahead with an ill-conceived plan to privatize job recruitment functions of the state's Commerce Department. The plan was approved despite warnings of problems with similar quasi-public agencies across the country and despite revelations by the N.C. Policy Watch that the Partnership’s CEO lacks experience in economic development and led his company into bankruptcy.

It was the second attempt by the Governor and Commerce Secretary to pass this bill. During the previous legislative session, a similar proposal failed when an amendment that would lift the state moratorium on hydraulic fracturing was added to the bill (the North Carolina chapter in our Creating Scandals Instead of Jobs study has more details on that plan).

May
22
2014

Rhode Island Considers Defaulting on Bonds for Notorious 38 Studios Deal

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Jun
16
2010

Naming Tax Credit Names

Corporate lobbyists have long blown a fog of fear, disinformation and confusion about public disclosure of corporate income tax credits.

It’s time to clear the air.