Rhode Island loses $1.8 million annually in film tax credits

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A new study shows Rhode Island’s tax credit for movies and television productions is causing the state to lose an average of $1.8 million in revenue a year.

WPRI-TV reports the state has given at least $84 million in credits since the program was enacted in 2005. The state Office of Revenue Analysis has found productions have generated on average 27 cents for every $1 spent in tax revenue.

The study found a modest increase of 94 jobs in the movie industry since the credit was created. Most of the jobs for state residents were low-paying.

See more at the Telegraph

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