Indiana Approves Movie Incentive Plan
"'We have been trying to get incentives off the ground for five years,' said Greg Malone, a producer and president of the Indiana Media Industry Network, which represents more than 300 industry-related businesses across the state."
"Daniels vetoed the incentives bill last year, calling it too expensive for taxpayers. Earlier this year, the House overrode the veto 77-17, and Thursday, the Senate voted 36-11 to do the same."
"That vote effectively makes it the law of the land."
"According to an analysis by the General Assembly, the legislation will mean the loss of up to $18 million a year in state tax collections, based on current filming activity. The incentives would begin July 1 and end by Jan. 1, 2012, unless extended by lawmakers."
"'I can't imagine what they were thinking,' Daniels said. 'Legislators have given out $30 million in corporate subsidies, most of which are likely to go to existing businesses and not bring a single new job to our state.'"