More somber news out of Michigan. Just when it looked like the state’s movie industry was beginning to take off, there’s been a potential roadblock put up by new governor, Rick Snyder. Snyder wants to eliminate Michigan’s film tax credit which has led to over 100 movies being filmed in the state. Renowned pictures such as Gran Torino, Up in the Air and television series Detriot 1-8-7. The governor has proposed to do away with the state’s 42% tax credit for film production and reduce the unlimited rebates the state was able to provide to an annual $25 million cap.
In Snyder’s defense, his office claims that the credit doesn’t bring in enough money to justify the amount of strain the it places on the budget. Of course, proponents of the tax credit claim that the money and jobs these movies and studios bring in more than makes up for it. Only time will tell which side wins out, but already some films and studios have begun to pull production out of the state because of the uncertain future.
Many of the politicians, lobbyists and lawyers in Michigan will end up plotting a course for the industry to follow.
Some great films have been shot there and its hard to believe that the film industry hasn’t helped the economy enough to justify the tax credit.