The $65 million in film tax credits Pennsylvania offers each year may not be enough to convince many film producers to bring their business to the state, but it does likely help keep productions in Pennsylvania that might otherwise leave, the state Independent Fiscal Office reports.
“Unless Pennsylvania increases the tax credit by a substantial amount, it will be difficult to entice production firms to relocate from states where they have already invested significant resources and established a long-term presence,” the IFO reported in an analysis provided to lawmakers this week.
The IFO found that 32 states provide film tax credits. Pennsylvania’s allocation for the tax credits is far less than some other states, including Georgia, which offers $533 million in film tax credits; New York, which offers $420 million and California which offers $330 million. That new report was the subject of a hearing at the Capitol on Thursday, held as part of an effort to review programs under a “performance-based” review.
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