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The Boston Globe

Business

Mass. tally finds thin return from film subsidies

The state’s film subsidy program cost taxpayers an estimated $44 million in tax credits in 2011, though it created the equivalent of more than 1,200 full-time jobs, according to the state’s latest annual report on the incentives.

In the report, the state Department of Revenue said most of the economic benefits went to Hollywood and other locales. Only 35 percent of the $176 million that production companies spent in Massachusetts in 2011 went to residents and companies in the state. The state recouped just 16 cents in new tax revenue for every $1 it gave up in subsidies in 2011, the most recent year with complete data.

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