The famous line Arnold Schwarzenegger reminds me "I'll be back!" When considering West Virginia West Film Industry Investment Tax Credit. Last year, the state has completed the movie tax credit – and it may be a good thing. It was time to assess the effectiveness of the program.
Changed our movie tax credit since it was enacted in 2007 – and our regulators and colleagues have had a "break" role so that we can strengthen it.
We are not alone – other states have just completed their movie tax credits to return them later or apply them to better function: North Carolina, Colorado, Nevada and New Jersey for a few nomination.
I am an accountant, auditor and fiscal conservative. We reviewed the auditor's report, considered my colleagues 'questions with the program and strengthened the auditing procedures so that we keep every dollar spent here in the state in our citizens' pockets.
Now that our film tax program is strengthened, if our regulator and the statutory leadership give him an opportunity to return to the 2941 House Bill, they are getting credit to encourage every opportunity to diversify our economy. It shows a series of two-dimensional minds – that Republicans and Democrats want to reform the film tax credit.
There are not a few states but not a movie tax credit. Give West Virginia your chance that our neighbors are, and we can not end the nation's tail in another category.
I'm not a fan of tax credits – believe in the free market. However, while the movie tax credit, it is much more like advertising costs than anything else. These films, commercials and television shows are being produced by companies that are out of the state.
We use our movie tax credit as an advertising cost to get them to make a movie here in West Virginia rather than a place or another. They film, then they go home, leaving the money they spent here with us. Even in-state production companies have to be persuaded to film their productions here rather than somewhere else, because film production companies can be in the world. We want the money here!
When film production companies are here, they are using West Virginia businesses – hotels, car rentals (and gasoline to drive them), building West Virginia material, clothing for clothing, compression, restaurants and grocery stores, heavy equipment rentals, dry cleaning services, office furniture rentals, and from there, hiring crew, lawyers, accountants, etc., putting money in pockets of all kinds of people and businesses in West Virginia.
Even if there are some movie teams outside the state, we have to keep them back back on the pay. Talk about good advertising notices when these people go home and talk about the beauty of West Virginia!
How the tax credit works, we offer beautiful West Virginia as a movie place, and if they come here and spend $ 100, we'll return $ 27. If they do not come here, they get zero from us. It's very similar to advertising costs, and not only is it a little different than millions of dollars in Tourism spending in advertising trying to put people on vacation here, but better.
There is no guarantee that anyone will come here (although I think some will be, because advertising works). With the movie tax credit, our advertising dollars are only paid if they come here. Rath one hundred percent! I want to keep much less than $ 100 minus $ 27 than $ 73 here except the net $ 73 profit that goes to Kentucky or Toronto.
Speaking on Kentucky, after the end of our last year's credit, the "Evening Evening" was supposed to be filmed in counties Logan and Boone in West Virginia. It had a budget of approximately $ 5 million to businesses and people in both counties. Instead they filmed in Kentucky. The reason? There is no movie tax credit in our state. It could be spent in Western Australia – and I believe, in Kentucky, Pennsylvania, Virginia, and in every other state with a tax credit, our film program will really want to continue.
West Virginians should tell us to bring it back, better than ever.
Dianna Graves of Cross Lanes is a Republican member of the House of Messengers representing some of the counties of Kanawha and Putnam in the 38th District.
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