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Granholm Defends Film Industry Tax Credits

film cbs Granholm Defends Film Industry Tax CreditsGovernor Granholm says critics of Michigan’s generous tax incentives for the film industry need to look beyond revenues to see the benefits to the state.

In what was billed as a “farewell address” to the Michigan Film Office Advisory Council at Michigan State University, Granholm, who leaves office at the end of the year, said of the 42 percent tax break, “The point of it wasn’t to make revenue for the state…do people want to see new sectors in Michigan that will keep young people here?”

Granholm says the credits are no different from tax incentives given to auto industry battery makers in order to nurture the electric vehicle industry in the state.

Dozens of movies have been made in Michigan since the incentives took effect, but critics contend the state is giving away the store and the tax credits will have no lasting impact on the economy.

(Copyright 2010, WWJ Newsradio 950. All Rights Reserved.)

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