By Associated Press
Undated – A study by an accounting firm says Michigan's film incentives generate nearly $6 in economic activity for every dollar spent.
The Detroit Free Press says the Ernst & Young study released Monday shows that the production of movies and TV shows in Michigan during 2009 and 2010 generated $812 million in economic output and 6,491 full-time equivalent jobs.
A Senate fiscal agency previously said the incentives generate 10 cents in new tax revenue per dollar spent.
Governor Rick Snyder's first budget proposal calls for the elimination of the film tax incentive program--one of the most generous in the nation--and orders a $25 million cap on film credits starting later this year. Current commitments would be honored.
The program refunds 40 to 42 percent of qualified expenditures.