In the same week that Ohio Governor Strickland vetoes a bill to create a tax credit for those creating film and video production jobs in Ohio, the Illinois Governor (yeah, that guy, the one who's been in the news lately), signed a bill [1] to expand their 20% tax credit to 30%. Do you think he knows something that Governor Strickland does not?
According to Illinois development officials and their May report, the film industry generated $155 million in 2007, the best single year in Illinois history, an 80% increase over 2006. The film industry impact on the Illinois economy is significant, with more than 26,500 hires in Illinois in 2007, a 110% increase over 2006. Currently, more than 40 states (but not Ohio) offer film incentives.
Local leaders of the film industry, including Cuyahoga Commissioner Peter Lawson Jones, http://www.cleveland.com/plaindealer/stories/index.ssf?/base/opinion/122...)">wrote in support
of the film industry in this morning's Plain Dealer. In vetoing the film incentive bill, Governor Strickland argued [2] that the money wasn't an effective investment. If that's so, why are the other states going in the opposite direction to create jobs in their communities?Links:
[1] http://www.illinoisbiz.biz/dceo/Bureaus/Film/Tax+Incentives/new+credit+-5-1.htm
[2] http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1229679153326170.xml&coll=2