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From Chuckles Langdon this morning.
http://www.yahoo.com/_ylt=Ant8ejrzQQLPQOlrKCw59XybvZx4;_ylu=X3oDMTJmYTU 4NXFlBGNwb3MDOQRlZAMxBGcDaWQtNzA2MjUzBGludGwDdXMEc 2VjA2luX25ld3MEc2xrA2xvYy10aXRsZQR0ZXN0AzcwMQR3b2U DMTI3Nzg3MDI-/SIG=13fm1hn67/EXP=1319149658/**http%3A//detroit.cbslocal.com/2011/10/18/richardville-spielberg-film-may-be-shot-in-michigan/
Good. I was recently around some people who are working on the new Batman film, and they were gushing about Pittsburgh and what an unexpected treasure it was there. Detroit was on the short list to be Gotham before Rick Snyder cut the incentives budget...
There's a whole lot of other things he needs to" re-think" as well.
What an idiot, a lot of people told him about the job market he would be destroying if he eliminated that tax break
This issue is a Rorschach test. Tell me what you think of the Michigan film tax credit and I'll tell you how well you understand economics, finance and business.
You know you're doing something right when everyone else is copying what you're doing. Anyone notice how no other state copied Michigan's genourous rebate plan?
If this idea is so great why does every state have a cap on how much money they'll pay out? If it works so well just keep rolling out the money.
I'll give you the cap, but just about every state with the means to compete has some sort of film tax incentive [[including California). Why? Tourism.Quote:
Originally Posted by rjk
Louisiana openly touts its "tax incentives that lead the nation" right on its web site: http://louisianaentertainment.gov/film/default.cfm
Funny, they have a pretty fiscally conservative governor down there too...
Its more about setting the stage for when your term is up ,it is okay to hand GE $42 million for a farce solar assembly to employ 200 for two years but not okay to throw monies at an industry that just may have a state wide impact?Quote:
Originally Posted by Det_ard
Of course GE capital would make a nice partner in future ventures on the private side as the movie industry is not into that sort of thing.Especialy when your a VC. Think of the mindset quick in and out maximizing profit without reguard to any ramifications.
Economics,finance,business is about who and how your bread is buttered.
Many people thought that Snyder was going to be an excellent Governor for the state for he is a BUSINESS MAN. There are many business persons who don't uses common sense. Many so-called business men had ran and are still running failed businesses. Dave Bing was a business man and look how he is running the city. He didn't do a good job running Bing Steel. The movie incentives that were given by Michigan had peak tourist curiosity about Detroit which encourage them to visit here. They began seeing parts of the city such as Indian Village, Palmer Woods, Belle Isle, Sherwood Forest, Lafayette Park, The Riverwalk, etc that they had not know about. My friend in Maryland had said that she and others were impressed by the Chrysler commercial that came out during the SuperBowl earlier this year.
I still don't completely understand this film tax credit / incentive / whatever it was.
If it's Michigan handing free bags of taxpayer money over to the studios, then I'd be against that [[because it needs to be spent on roads, police, services, etc.); but if it's just a break on sales taxes or some corporate income tax, I'd find that easier to accept and promote.
Can somebody explain plainly what the tax incentives were?
But wait, I thought Republicans didn't "flip flop" on issues?!
You mean one of them actually may understand that changing ones mind isn't necessarily a bad thing?
In simple terms, it wasn't a tax incentive. It was a rebate on money spent. the State wrote a check for 42% of all expenditures on any project. Literally wrote a check for that amount. I believe 80% of the money had to be spent in Michigan.Quote:
Originally Posted by Malcove Magnesia
I have plenty of problems with Snyder, but I don't think this re-thinking of tax incentives is in any way different than what had been suggested all along. The $25 million cap was a stop-gap while the re-thinking went on. To me it seems like a good idea to sit down with a mega-producer and director who apparently is looking in your backyard to film some $100 million dollar picture and discuss incentives. I doubt it will look the same as the old ones.
...and jokes about Republicans? C'mon. The original incentives were non-partisan/bi-partisan - a Republican/Granholm collab. The partisan lense is such a cop out.
This is happy talk from Richardville. Snyder doesn't support the film incentives and there's a lot of opposition to them from Republicans in the House and Senate.
More on Richardville's plan here:
http://ferndale.patch.com/articles/m...stry-with-bill
I tend to agree. I didn't listen to the whole segment, but it doesn't sound like this is going anywhere.Quote:
Originally Posted by Novine
Which gave rise to many new jobs for Michigander's in the related industries.Quote:
Originally Posted by bartock
Isn't it funny how people seem to forget that little fact when making an argument?Quote:
Originally Posted by bartock
Film companies will only come here if we pay for nearly half of their expenses. And the jobs created only last as long as production does. And as soon as the free money stops, all the jobs disappear. Instead, why isn't that money used to attract long term jobs? Manufacturing plants, research facilities, corporate offices, etc create more permanent jobs, don't expect free money every day of the year and only ask for tax credits [[instead of straight up cash like the film industry). Why aren't we spending to bring these kinds of jobs instead?
No one has been able to explain that one to me. If you have an answer, I'm all ears.