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Don't give them any ideas

March 12, 2010

Sen. Herman Quirmbach, D-Ames, an Iowa State University economics professor, said he sees no way to fix the film tax credit under a suspension that would make it pay.

“So many states have tried this in various ways and there seems to be broad-based failure,” he said. “I don’t know how we can succeed when so many others have failed.”

Elias said Iowa could become the surf board capital of the world if it pays 50 percent of the production costs like the Iowa Film Office initially was doing with its “half-price” filmmaking promotion that overcommitted state outlays estimated at up to $38.5 million.

Replace "surfboards" with "ethanol and windmills" and that pretty much describes Iowa's economic policy.