Ernst & Young just released their analysis of the film tax incentives program in Michigan. It is titled “Economic and Fiscal Impacts of the Michigan Film Tax Credit” February 2011.
The report was commissioned by the Detroit Convention and Visitors Bureau, Grand Rapids, Ann Arbor and Traverse City, Michigan organizations.
The Fiscal Impact Report clearly states what the proponents have been stating: the film tax incentives work, creating a thriving and job creating industry. The Michigan film industry has grown enormously since its creation in 2008. The study finds an economic output ratio of $6 of activity for every $1 of film tax credit. This has translated into an $812 Million successful return for the State of Michigan on a net outlay of $127 Million. The incentives have created over 6,000 jobs and attracted major feature film and television production to a state badly in need of investment.
Read the entire Ernst & Young “Fiscal Impacts of the Michigan Film Tax Credits” report.
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