Cleveland Film Commission says motion picture tax credit expected to be kept in Ohio budget
CLEVELAND– The Cleveland Film Commission said the $40 million per year Ohio Motion Picture Tax Credit is to be included in Gov. Mike DeWine’s state budget.
The budget was set to be voted on Wednesday and then would have to be signed by the governor.
An early version of the budget proposed eliminating the credit with critics saying it did not pay for itself in generated tax revenue.
A 2015 study commissioned by the GCFC and conducted by Cleveland State University researchers found about a two to one return on investment for each dollar spent in tax incentives.
**Editor’s note: The Cleveland Film Commission originally stated the budget was approved with the tax credit included; later, they released a correction, saying it was expected to be approved.**