Pennsylvania Film Tax Credit May Be Cut
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PHILADELPHIA (CBS) - A film tax credit enacted by Pennsylvania lawmakers in 2007 could be on the chopping block for this year’s budget.
Supporters of the tax credit, which was made available for the production of movies, TV shows, and national commercials, say the state isn’t aware of what they would be losing by cutting the credit out of this year’s state budget. David Haddad, chairman of the Pennsylvania Film Industry Association, says it’s a matter of simple math.
“For $75 million, you got $300 million worth of benefit, and this is a no brainer decision.”
Haddad says PAFIA plans to take their message to state lawmakers. The group also wants to warn them about possible consequences of cutting the credit.
“One Paramount job has already left Philadelphia and is headed for Georgia, and there are three more in immediate jeopardy of going away.”
Reported by Dan Wing, KYW Newsradio