State Analyses of Film Tax Credit Proposals Show a Cost Nevada Cannot Afford

CARSON CITY – A report published Monday by The Nevada Independent showed the Governor’s Office of Economic Development (GOED) recently commissioned an economic analysis of two bills proposing vast, unprecedented expansion of the state’s film tax credits (AB238 and SB220). Reportedly, the analysis shows disastrous economic consequences for such tax credits, with Nevada poised to lose money for every tax dollar spent. Even so, with the end of the legislative session just days away, the report has not been publicly released by either GOED or Gov. Joe Lombardo’s office.

Shelbie Swartz, Executive Director of Battle Born Progress, issued the following statement:

“These numbers prove what other states have known for years – that expanding film tax credits is a losing bet, creating a nationwide race to the bottom where the only winners are Hollywood mega-studios. These tax credits are and always have been an unprecedented corporate handout. Now, lawmakers and Nevadans everywhere deserve transparency and the full release of this analysis to see just how bad this deal really is.”

Andrew Clarke, Revenue Coalition Manager of New Day Nevada, issued the following statement:

“When over a billion in taxpayer dollars are at stake, the public has a right to know what the outcomes and projections will be. That’s why we are demanding public records related to the film tax credit bills be released. Right now, these deals are being negotiated while a public entity has yet to release what their projections are. Nevadans deserve transparency, not backroom deals. We should be committed to investing in our future. Our state deserves to know the price tag.”

Dawn Etcheverry, President, Nevada State Education Association:

“This week the Legislature passed the Governor’s Education Budget with only a $2 increase in per-pupil funding and tabled AJR1 to help Pass The Plan to fund public education. Now, lawmakers are considering giving away $1.65 billion in public money to Hollywood executives. It sounds like a horror movie, but it’s a Nevada documentary.

That’s why the news that the Governor’s Office of Economic Development (GOED) withheld its recently completed economic analysis of the “Hollywood Handout” is troubling. As any educator would say: show your work. Film tax credits may be flashy, but they’re fiscally flimsy. When public dollars are on the line, Nevadans deserve full transparency.

SPOKESPEOPLE ARE AVAILABLE FOR COMMENT IN ENGLISH AND SPANISH

###

About Battle Born Progress: Battle Born Progress, through strategic communication efforts, empowers, engages and mobilizes Nevada voters to build a state where everyone has a fair opportunity to succeed. We support, engage, and mobilize the progressive community through bold leadership, strategic communications, accountability, and education. We are on the cutting edge of new media and are the go-to source for progressive issues and advocacy for traditional media.