[Press release from the Greater
Cleveland Film Commision.]
Ohio has seen great success from the
Ohio Motion Picture Tax Credit. A recent Cleveland State University
economic impact study has provided hard evidence that the tax
incentive creates jobs and a positive return on investment for Ohio's
economy. Unfortunately, the current tax incentive expires on June 30,
2012 - just two months from now. Recently, Ohio Rep. Mike Dovilla and
Ohio Sen. Tom Patton introduced bills to renew and double the Ohio
Motion Picture Tax Credit from its current annual cap of $10 million
to $20 million. Renewing this program is absolutely critical to
creating a year-round, thriving film industry in Ohio. Letting it
expire would ensure a dead stop to any momentum Ohio's film industry
and its supporters have generated over the past several years.
As of last week, both the Ohio House of
Representatives and the Ohio Senate voted by an overwhelming
majority in favor of bills supporting the doubled Motion Picture
Tax Credit (House bill PDF; Senate bill PDF). The bill received
bi-partisan support in both houses, reflecting the universal support
of this thriving industry. The legislation is now awaiting signature
by Gov. Kasich and, once signed, will mean that $20 million will be
available beginning July 1.
On behalf of everyone at the Greater
Cleveland Film Commission we would like to extend our most heartfelt
appreciation to everyone who has supported the continuation of this
crucial legislation. We will be sure to keep you informed with the
latest news and updates as they become available.
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