Massachusetts Department of Revenue Reports
The Department of Revenue (DOR) is required by law to issue an annual report evaluating the impacts of film incentives. The March 2008 report estimated that, the Commonwealth was likely to spend just under $90 million on film subsidies in 2008. This estimate was based on film projects planned or under discussion during just the first two months of the year.
The May 2008 report attempts to quantify the impact of the increased economic activity on the Massachusetts economy, and on State revenues. It estimates that we we will recover only about $17.9 million for each $100 million we spend on subsidies. The cost to maintain a full time equivalent job for just one year is estimated to be between $22,443 and $34,380.
The 2009 report shows that the figures for 2008 were even more alarming than were originally estimated in 2008. Spending was $113 million, net revenue generated was only $17.5 million, or a loss of 85 cents for each dollar spent on film subsidies.
The DOR found that if Plymouth Rock Studios is built, the cost to Massachusetts taxpayers for the induced film production credits will be $3.3 billion net or $4 billion gross over thirty years. A copy of these findings are available under "Plymouth Rock Studios" in the navigation panel.
