« Trevor Nunn Plans 'Night Music' Revival | Main | The B in Your Bonnet? It Stands for 'Bucks' »

Pa. Film Tax Credits Getting a Black Eye?

0429 ESPRESSO Rocky New York, it seems, isn't the only state struggling to hold on to government tax breaks for TV and film producers. In Pennsylvania, there are three bills pending in the legislature that seek to limit or eliminate the commonwealth's $75 million program, and the Greater Philadelphia Film Office is doing something about it.

On Friday, May 1, it will sponsor a public hearing at the Pennsylvania Convention and Visitors Center in Philadelphia. Leading the hearing with be state Rep. Thaddeus Kirkland (D-Delaware Co.), chairman of the House Tourism & Recreation Department. Scheduled attendees include representatives from IATSE and the MPAA.

Though Philly is not exactly Hollywood on the Delaware, some form of tax credits have existed since 1971, well before the filming of the city's most iconic film, Rocky (above). 

"We are in the midst of the most severe recession in decades," Sharon Pinkenson, executive director of the Greater Philadelphia Film Office, stated in a news release. "This is not the time to increase the cost of doing business and send jobs to other states with incentives. Every crew member, business owner and citizen with a stake in the future of the film industry in our region should attend this hearing."

Pinkenson and others maintain that tax credits have generated $2 billion in economic impact for the commonwealth since 1992.

However, Sen. Pat Vance (R-Cumberland/York) disagrees. She introduced a bill in February that would place a moratorium through 2010 on tax credits and maintained that the $75 million only generates $18.3 million in new tax revenues.

"In light of the significant budget shortfalls we are facing this year and next, we cannot continue to commit millions for a tax credit that is not cost-effective," she said in a news release in February. "The Governor is freezing wages and considering layoffs of state workers, and it would be unconscionable in this environment to continue awarding tax credits to film companies. Failure to suspend this tax credit sends the wrong message about our fiscal priorities."

The hearing is scheduled to run from 1-3 p.m at the Convention Center, 12th and Arch streets, Center City. For more information, contact the film office at 215-686-2668.


Dig This

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c9cc153ef0115705d8430970b

Listed below are links to weblogs that reference Pa. Film Tax Credits Getting a Black Eye?:

Comments

The comments to this entry are closed.