|
| FOR IMMEDIATE RELEASE |
| State Rep. Robert F. Matzie |
|
Matzie says film tax credit offers big benefits for Pennsylvania
HARRISBURG, Jan. 26 – State Rep. Robert F. Matzie, D-Allegheny/Beaver, is praising the benefits of Pennsylvania's film tax credit ahead of the governor's planned budget address in February.
"With the recent release of the movie One for the Money, which was filmed in the Pittsburgh region including Ambridge in my legislative district, I feel that it is necessary to emphasize the importance of the Pennsylvania Film Tax Credit Program," Matzie said. "The program, which I strongly support, was funded at $60 million in the most recent state budget. I hope that the governor will include the line item in the upcoming budget address this February."
Matzie said the tax credit, which is administered by the Pennsylvania Department of Community and Economic Development, was essential in attracting producers to film in Pennsylvania.
In addition to money made by local businesses and residents, the overall production of One for the Money spent $32 million in Pennsylvania. The movie received a $7.7 million tax credit, which means that the movie pumped more than $24 million into the state's economy. Additionally, more than 100 jobs, not including film extras, were filled during the filming.
According to the Pittsburgh Film Office, since 2007 Pennsylvania Film Tax Credit Program has resulted in a $381 million direct impact to the economy in Southwestern Pennsylvania. Forty-three feature and television productions have been produced in our region and local hotels have averaged 25,000 annual room nights by the film industry.
Additionally, since 2007, Pennsylvania has realized $800 million in direct spending from qualifying film projects, with a total economic impact of $1.2 billion. In 2010 alone, $42 million in film tax credits produced $330 million in economic activity, including more than 2,000 jobs, according to DCED.
###