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re: $63.5 million Deep South Studios proposed for New Orleans Metro

Posted on 6/12/14 at 8:22 am to
Posted by kingbob
Sorrento, LA
Member since Nov 2010
67580 posts
Posted on 6/12/14 at 8:22 am to
Exactly. They are called tax credits, but they really aren't. They pay the film companies back for 30% of their expenses, NOT tax expenses, straight expenses. Those film companies can also sell those credits back to the state or to other companies. There have been multiple studies showing that the state comes out far behind money wise, but I still think it may be a net positive for the state. All of the extra attention really does seem to be helping our tourism dollars, but that may be a stretch as well.
Posted by Traffic Circle
Down the Rabbit Hole
Member since Nov 2013
4394 posts
Posted on 6/12/14 at 8:32 am to
The La. Legislature toyed with dropping the credits 5-10% last year and many threatened to pull out.

Look how quickly the movie industry left California to come here.

Just as soon as there is a better deal in another state, there will be some giant vacant warehouses in Louisiana.
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