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La Times: Are Film Subsidies Worth It? | Fox40

Posted 5:05 PM, August 30, 2014, by FOX40 Web Desk , Updated at 05:00pm, August 30, 2014 Technocrane operator Henry kim kardashian measurements Flores sets up tracks on the set of "The Perfect Guy" in the Hollywood Hills. Courtesy: Ricardo DeAratanha / Los Angeles Times (LA Times) Tired of internet seeing Hollywood take its business elsewhere, California is moving to triple tax subsidies for film and TV productions, boosting incentives to $330 million annually and making the state competitive with New York, Georgia and other states that are courting the entertainment industry with ever-richer incentives. The action is widely seen as necessary to stop thousands of jobs from leaving Southern California, where most studios and production companies are based and would prefer to work if costs are roughly equivalent. Yet it comes amid growing national debate about the value of film tax breaks and whether they create new jobs, or merely shift work from one place to another. Some fear Californias move may, in fact, escalate a bidding war among states eager to claim a share of the worlds most glamorous industry. While these tax credits have been highly effective at luring production out of California, their long-term economic benefits have been questioned by several independent studies. Read the rest of this story on LATimes.com
Source: http://fox40.com/2014/08/30/la-times-are-film-subsidies-worth-it/

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