Sunday, March 17, 2013
Michigan Bets The State Pension Fund On Hollywood Success, Ends Up Stuck With The Tab
Techdirt: We've written before about cities and states luring Hollywood studios with multimillion dollar subsidies in the hopes of giving their local economies a bit of a bump. In nearly every case, this has been a money loser for the locale involved. A 2010 Tax Foundation study found that most states were lucky to see $0.20 in revenue from every dollar handed out. And yet, this surefire money loser remains incredibly popular.
Subscribe to:
Post Comments (Atom)
1 comment:
Michigan has been trying to get major motion picture to use the state for years now and Michigan is a lovely place so I could see why the is plausible. However I have never hear of the economy losing so much money because they funded movies there. I think that this is really depressing to here that Michigan is in fact losing money over these moneys because the politicians are not making smart decisions. I would really love for this to work out however I really think Michigan needs to find people with more experience in the business to help them along the way.
Post a Comment