it is as good as a cash payment
I have read about 6 sites describing and explaining how the film credits work and none of them say the state will cut a check to the film producer for 100% of the credits. The state sets a floor on the exchange value of the credits by offering to buy the credits at 85% of face value.
If you can find a website which explicitly says the film producers are being cut checks by the state for 100% of the tax credits' face value, I'd like to read about it.
BTW, I have never said I think the movie tax credits are optimal for the state's taxpayers. I don't know enough about what qualifies for applying about the credits, such as what expenses are valid, although the state's website on the film credits says "Only work physically performed by residents and non-residents in the State of Louisiana and only tangible goods acquired from a source within the state qualify for the program."
There is also a minimum of $300,000 which must be spent to qualify for the credits.
I did find this article by WWL ( LINK
) which says...
"NEW ORLEANS -- At the University of New Orleans Nims Center Studios, two television shows and a movie are in the works, and they're about to start construction on another studio.
The city's film office says five movies are being filmed in New Orleans right now, bringing the total so far this year to 38, a $480 million boost for the local economy.
"I'm really proud not only of the over 200 films that have been produced here since then, but if you just look at this year alone, according to the state Department of Economic Development, the film industry will represent 10,000 jobs in this state,” Scalise said."
Ten thousand permanent new jobs, if it's true, in the state seems to me to be a good thing.
I also found this:
In 2011 Louisiana hosted more than 150 productions and about $1.3 billion of their combined $1.9 billion in budgets was spent in the state.
My main involvement in Freeman's last thread on this topic was when he said one million new jobs in the state paying an average salary of $50,000/year would be a bad thing for the state.