Greg Leroy, Executive Director of Good Jobs First, joined the America’s Work Force Union Podcast to discuss an article that examined the impact of film and televsion subsidies on state and local communities.
According to the recent Good Jobs First article, states spent billions of dollars to subsidize film and TV production. These tax credits are the most prominent public money spent on film and TV production.
While wages paid by production companies are a reason many states justify the subsidies, Leroy argues that this does not fully illustrate the impact these credits can have on economies. He said every credible independent analysis over the past two decades found that states lost up to 70 cents on every dollar given as a tax credit.
Despite some union support for the tax subsidies, Leroy believes unions support them to ensure their members are paid fairly for their TV and film production work. To create a better return on investment, he said state and local governments should place requirements on the subsidies while ensuring fair wages for workers.
Listen to the show above for more on TV and film production subsidies' impact on local economies.