We can only hope that the General Assembly does not feel the need to compete with Connecticut in luring Hollywood further East. According to The New York Times, Connecticut is offering the film industry a new tax credit in hopes of becoming a movie-making mecca. Sound familiar?
While Rhode Island offers a 25-percent credit on television and film productions that spend more than $300,000 in the state, Connecticut's program offers a 30-percent credit for any production that spends more than $50,000. According to the Times, that puts the Nutmeg State in line with the most generous Hollywood wannabes.
Connecticut says the tax credit has netted the state $51.3 million in spending since it went into effect on July 1.
Rhode Island should not follow suit and start fiddling around with what is a sound program. The state's looming budget deficit is more than enough to discourage any more generous subsidies.
Just like a company that wants to avoid a price war it can't hope to win – and we certainly cannot – the state needs to market its unique qualities, not how much it will bend over backwards to attract film crews.
