Film Industry Fears Tax Credit Cap Will Drive Away Future Business

Aug 21, 2018

Credit pexels

  Last year was a big one for the film industry here in the island-- generating more than $300 million into the economy according to state’s own business figures.

But the legislature, over concern about giving away more than $50 million in tax credits added additional conditions about cultural sensitivity and transparency and even CAPPED the Motion Picture Digital Media and Film tax credit. Industry officials are nervous about whether that will drive away business-- particularly on the neighbor islands which are eager to boost their economies.