As Louisiana lawmakers prepare to address a budget deficit currently pegged at $1.4 billion—and likely growing due to falling oil prices—the roughly $200 million in tax credits the state provides the film industry each year could be a fat target.
Advocates hope to protect the film tax incentive program, which has transformed the state into a national player in the lucrative movie and television business.
“The economic impact is positive,” says former Louisiana Entertainment Executive Director Sherri McConnell, who led a panel discussion about the program today. “We know that.”
Few budget-watchers would dispute that statement. But the problem, as Jan Moller of the Louisiana Budget Project points out, is that every taxpayer dollar spent to prop up the film business is a dollar that doesn’t go to road upkeep, health care or higher education.
