Nearly $400M in the hole, Connecticut to continue film incentive

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The state wants to keep the cameras rolling.

Under new Connecticut estimates, a film and digital production tax credit cost the state’s budget $393 million in direct revenue between 2006 and 2014 in the form of tax credits claimed by companies and direct spending by the state supporting their growth.

It marks the first of planned annual estimates by the Connecticut Department of Economic and Community Development to itemize the benefits and costs of the slate of tax incentives it issues annually, which are designed to spur investment in varying industries from entertainment production to manufacturing to insurance.

See more at The Hour

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