Thursday, May 15, 2008

Michigan movie credit has huge opening

By Peter Luke | Booth Newspapers | May 15, 2008

Movies go over budget all the time. So too, apparently, do movie incentive programs.

Lawmakers on Wednesday seemed somewhat stunned by the estimated $110 million net price tag of Michigan's new film promotion program. The unexpected cost of luring movie makers here could mean less money for local school districts and municipalities.

In a briefing to the Senate Appropriations Committee, Senate Fiscal Agency Director Gary Olson pegged the cost of new film production credits at more than $127 million, a figure offset by $10 million in income and sales tax receipts gained from those productions.

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