The stiff competition among states to lure the multibillion-dollar film and television industry with lucrative tax credits may be going through a Darwinian period where only the strongest survive.
At incentives’ peak, 44 states offered them in 2009, according to the National Conference of State Legislatures. Now there are 37. Moreover, some states are scaling back their programs and reviewing whether the credits are providing enough return on investment in the face of widespread criticism.
Kathleen Quinn, a research analyst at NCSL, said budgetary constraints and limited returns have led some states to eliminate or trim their programs.
See more at BNA.