New Ohio Study: State Film Tax Credit Loses 79 Cents on the Dollar

 The Tax Foundation posted a review of a study released by Clevland State University which shows that Ohio film tax credits have cost the state about $22.4 million.

All told, the report estimates that Ohio film projects have received $28.3 million in tax credits (p. 9). The study’s authors estimate (through an economic planning model) that the subsidized projects generated $35 million in income and $113 million in output (p. 24), which in turn generated $5.9 million in state tax revenue (p. 25). Generously assuming that the tax credit induced all of this activity, the credit was therefore a net loss to taxpayers of $22.4 million ($28.3 million minus $5.9 million).

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