Connecticut Studios

Estimated Impacts of the New York State Film Credit

February 2009

An Ernst & Young study prepared for the New York State Governors Office of Motion Picture and Television Development and the Motion Picture Association of America reported that the 30% production tax credit program evaluated at the $940 million level of film spending in 2007 created and retained 19,512 jobs and generated New York State and City Return-on-Investment (ROI) of $1.90 for every $1.00 invested in tax credits.

Download the full report (.pdf)

Economic and Fiscal Impacts of the New Mexico Film Production Tax Credit

January 2009

An Ernst & Young study prepared for the New Mexico State Film Office and State Investment Council reported that New Mexico’s state film production tax credits resulted in combined state and local tax collections of $1.50 for each $1.00 of state credits.

Download the full report (.pdf)

Economic Benefits

Motion picture production is a highly desired and welcomed industry in Connecticut. Connecticut Studios is a project that will provide immediate and sustained economic benefits to South Windsor and the state.

Immediate Construction Jobs & Economic Impact:

  • $71,000,000 project investment.
  • Estimated 400-500 union construction jobs for the construction period.
  • $6,000,000 in new employment and sales tax revenue.
  • Creation of a new industry in Connecticut.

Sustained Annual Movie Production Jobs & Long-Term Economic Impact:

  • 1650 production related union jobs per year paying an average salary of $68,200, generating approximately $112,500,000 in additional Connecticut payroll.
  • 54 full time studio facility jobs paying an average salary of $37,500 generating approximately $2,400,000 in additional Connecticut payroll.
  • In 2007, film production generated Four Hundred Eighty Million Dollars ($480,000,000) in direct production expenditures in the State Of New Mexico.
  • Industry statistics show the economic multiplier effect is approximately four times direct production expenditures.
  • Connecticut Studios will provide a valuable connection to the entertainment industry for Connecticut’s regional technical schools, colleges & universities with related academic programs and provide strong incentive for graduates and young professionals to remain in the state.

Economic Benefit Studies

  • A February 2009 Ernst & Young study prepared for the New York State Governors Office of Motion Picture and Television Development and the Motion Picture Association of America reported that the 30% production tax credit program evaluated at the $940 million level of film spending in 2007 created and retained 19,512 jobs and generated New York State and City Return-on-Investment (ROI) of $1.90 for every $1.00 invested in tax credits.
  • A January 2009 Ernst & Young study prepared for the New Mexico State Film Office and State Investment Council reported that New Mexico’s state film production tax credits resulted in combined state and local tax collections of $1.50 for each $1.00 of state credits.
 
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