Monday, June 16, 2008
Dang those leakages!
But a new government study suggests much of the money will go to high-paid Hollywood actors, raising questions about the value of the incentives.
The analysis by the Department of Revenue this week estimated that at least half the film-industry payroll spending will go to out-of-town residents, mainly actors, directors, and producers commanding salaries of more than $1 million each. The Revenue Department assumes they will spend only a fraction of their paychecks in Massachusetts, limiting the benefits to the local economy.
"It's not the best use of taxpayers' money," said Representative Steven D'Amico, Democrat of Seekonk, who requested the study. "I don't think it's good business to be subsidizing the salaries of rich movie stars."
(h/t: Newmark's Door)