Posted: Aug 7, 2012 5:09 PM
Source: Associated Press
BATON ROUGE - A new report is suggesting state lawmakers should lessen Louisiana's generous film tax credits and cap the amount of money it can cost the state each year in lost revenue.
Louisiana spent $231 million last year to attract movie productions, through a tax break program that continues to grow larger annually and that has cost the state more than a billion dollars over a decade.
The left-leaning Louisiana Budget Project says the state hasn't gotten much in return besides the prestige of hosting big-name Hollywood actors.
After years in the film business, Louisiana has about 2,500 direct jobs in the industry, according to federal labor statistics cited by the report. Taxpayers shelled out on average more than $60,000 for each of those jobs, the report says.