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Breaking news: If you give away money, people will take it!

June 19, 2009

Hollywood is flocking to Iowa's 50% filmmaker subsidy:

At least 58 proposed projects - mostly involving feature-length films - have applied to receive state tax incentives that are among the nation's most attractive, ranking 2009 as the high-water mark for movie-making interest in the Hawkeye State, state officials said Thursday.

"It's going great guns right now," said Mike Tramontina, director of the state Department of Economic Development. "We've had a big rush."

Wow. The state is running out of money, and it also shoveling it to subsidize carpetbagging filmmakers as fast as it can. Just... wonderful. Imagine how many other industries we could attract if the state paid 50% of their production costs. Sure we'd go broke(er), but imagine the economic development!

Tags: corporate welfare.Economic development.harold hill.tax credits.

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