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State treasurer john kennedy says he believes a newly released performance audit of the
state's motion picture tax credit program shows ... it's working. the report from the
legislative auditor shows the state shells out a lot more than it gets back from the
movie industry. but industry officials say that's only part of the story. 11 36 58 this
is a camera truc....oc;1 room talent trailer.. andre champagne shows off a few or his company's
assets...his enterprise; hollywood trucks keeps the movie industry --- moving. sot 11
30 07 the company was started in 2007 started out with 7 trucks.. it's really fortuante
to grow to three hundred... champagne's business benefits from state movie industry tax credits
that bring picture after picture here. sot 11 36 11 we've been in it since 2002 we've
got such a head start we just cant ket it go. the state legislator auditor released
a report today that shows the state is doling out -a lot- for business. in 2010.....the
state issued 196 million dollars in tax credits... but received only 27 million dollar in tax
revenue back. that resulted in a net cost of 169.8 million dollars to the state... but
here's the flip side...as explained by state treasure john kennedy. sot 13 43 11 in 2010
the state spent 196 .8 in tax credits and those tax credits genrated 1.08 billion dollars
in total economic output... sot 11 15 35 you might see on that economic development one
company but you don't see the other ten people working here moving here buying cars. the
governor and some lawmakers have floated the idea of tinkering with the present tax credits.....
brennan says it would be a blow to a burgeoning industry... and her stages that are booked
for the year. sot 11 17 12 it would not have happened with the tax credits..they'll go
elsewhere georgia they're building new stages and if we lose these tax credits all of our
production will go to georgia. - louisiana film and entertainment association 13 10 44
the real long term benefit of the investments the creation of the entire industry. 13 10
48 it's the creation of 14 thousand jobs when originally we had 200 it's bring 1.3 billion
in outside capital in louisiana and stays here sot 14 02 09 there's a tremendous economic
benefit but it does cost the state...do we want to fund this program but it does cost
the state money. nats in the meantime champagne says keeps his trucks rolling hoping nothing...
changes. 11 35 41 it would be catastrophic if would have any legislation was to form
of impact...it's a phenomenal program that needs to stay exactly where it's at. nancy
parker fox 8 news ) the year of the audit .. 2010.. the total number of jobs in motion
picture field was eight thousand... now movie industry officials say it's 14- thousand.