The Pennsylvania Senate Legislative Budget and Finance Committee released a report prepared by the independent firm Economic Research Associates (www.econres.com) that reviewed and estimated the scope of economic and fiscal impacts of the state's Film Production Tax Credit.  

The results of the study were very positive for supporters of the film tax credit. Below are some of the highlights of the report, and to see the entire report you can download it at http://lbfc.legis.state.pa.us

HIGHLIGHTS OF ECONOMIC RESEARCH ASSOCIATES STUDY ON THE FILM TAX CREDIT

*The economic activity that results from the film tax credit has an economic impact statewide of $524.6 million dollars for the Commonwealth of Pennsylvania.  

*The Film Tax Credit has been responsible for creating and supporting over 3,950 new jobs here in Pennsylvania.  

*The Film Tax Credit generates $146.4 million in wages alone from these created and supported jobs.  

*The total industry produces fiscal benefits to the Commonwealth of $62.7 million in state and local tax dollars, almost all of which would be at risk without the tax credit program.  

*The industry on a whole produces a net fiscal gain for the Commonwealth and its local governments of over $4.5 million.  

The ERA study makes clear that the film tax credits are not only vital to the continued growth of the movie industry in Pennsylvania , but they are also vital to our states economic development and provide much needed revenue for our state and local governments facing budget challenges.