Michigan's film subsidies may be enhancing the state's image and producing pockets of new economic activity, but they're a net loser for taxpayers, according to a new report from the Senate Fiscal Agency.
The state treasury spent $37.5 million in subsidies in 2009 and is expected to distribute about $100 million to the makers of TV and film productions. But the estimated additional state tax revenue generated by film-related economic activity was $3.7 million in 2009 and $10.3 million in 2010, the report found.
After reading this Detroit Free Press story about how Michigan taxpayers are getting the big shaft in the wallet through a program to pay for almost half of Hollywood productions made here, I am about ready to join the tea party.
The Michigan Senate Fiscal Agency in a report says the state treasury has gotten $3 million from the $137 million that the state has given to Hollywood.
Do the math? Does this make sense to you? Is it worth asking about as you talk to the candidates who enacted this in Lansing?
How can this be repealed?
Michigan residents should at least get free video rentals.