MN Film Board Wants More Money to Lure Hollywood
The Minnesota Film and Television Board wants 10-million dollars from the Legislature. The MFTB says forty other states offer significant tax credits and rebates and Minnesota has not kept pace. Right now, the MFTB says the state spends about 500-thousand dollars to attract film producers and their investors. But, MFTB says other states like Ohio and Massachussetts spend anywhere between 20 and 50-million dollars to attract movie makers.
In the mid-1990s, Minnesota hit its peak in movie making and film industry experts say the state had over 300-million dollars in revenue from films like Grumpy Old Men, Fargo and Mighty Ducks. But, since then, the MFTB says other states starting offering big incentives to production houses and Minnesota fell behind them as movie makers started going to states that offered the best financial deal. There is a bill in the Legislature that would increase Minnesota's film incentive budget to 10-million dollars.
The MFTB says the film and television industry creates about 4-thousand jobs in Minnesota and currently brings in about 220-million dollars. But a spokesperson with MFTB says, if Minnesota does not do a better job offering incentives, the film business here will eventually dry up and jobs will be lost.