December 3, 2014
KEEPING LA IGNORANT:
Giving Away Louisiana: Film tax incentives State's program is popular, fast-growing but a major money-loser (GORDON RUSSELL, 12/02/14, The Advocate)
In a year of flops for Hollywood, 2011's "Green Lantern" was a memorable bomb, barely making back its $200 million production budget at the box office.Happily for Warner Brothers, the studio didn't have to put up all of the money.Louisiana taxpayers promised $35 million through a generous subsidy program that covers 30 percent of a film's local costs. And if state cost-benefit analyses are to be believed, the state recouped only about $8 million of its investment.By way of comparison, Louisiana sank more into "Green Lantern" than it is putting into the University of New Orleans this year.
Posted by Orrin Judd at December 3, 2014 9:30 PM
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