Brad Pitt Film Cost State $27 Million
Posted on Mon Oct 13, 2008 09:13 AM PDT
LOS ANGELES, California (X17online) - Louisiana taxpayers are subsidizing the new Brad Pitt movie "The Curious Case of Benjamin Button" with more than $27 million dollars in tax credits, according to the New York Times.
The news from Louisiana comes at a time when states are struggling financially and many are questioning the benefits of giving filmmakers such generous subsidies.
Under the bayou state's incentive program, who's rules have recently been tightened to ensure more of the money stays in the state, studios could recover portions of star salaries and other expenses related to the production. And some state officials say the money is well spent.
â€œAll areas of the state have prospered as a result; everyone sees it,â€ said Sherri McConnell, director of Louisianaâ€™s Office of Entertainment Industry Development. (Ms. McConnell said she did not expect to have a detailed picture of economic impact until the completion of a planned study, early next year.)
Others are not so sure. â€œThereâ€™s no way you can say this makes money for the publicâ€ treasury, said Greg Albrecht, chief economist for Louisianaâ€™s legislative fiscal office.