Dear Governor Rick Scott,
While I am happy to offer a warm Florida welcome to new economic activity, the research shows that corporate handouts do not create jobs or otherwise justify the cost to taxpayers.
As you know, the state’s own economists recently released a report showing that the existing film tax credit makes no significant impact on tourism and has a measly return on investment of 43 cents to the dollar. No bank or investor would accept that poor of a return – why should taxpayers?
While taxpayers are getting the short end of the stick, Hollywood executives are padding the profits for films on the backs of Florida taxpayers.
Instead of trying to lure Hollywood big-wigs and sports arenas to our state with expensive handouts, let’s make our state a better place for all entrepreneurs by keeping the tax rate low and evenly applied. Trying to pick economic winners and losers may sound like an exciting blockbuster, but in practice it’s a box office bust.
I’ll be watching how you vote on this issue and hope you will prioritize taxpayers over the special interests.
SEE THIS LINK FOR A HANDY INFOGRAPHIC: http://americansforprosperity.org/florida/files/2015/01/Hollywood-Handouts-Edit.pdf