Two state lawmakers are banding together to present something they're suggesting is an encore to the state's film industry tax credit, which has brought $119 million to Ohio in its first two years. Statehouse correspondent Karen Kasler reports.
Giving a 25% tax credit to musicians, producers and others in Ohio is a key way to create a major number of jobs with a minor investment, says Republican Sarah Latourette of northeast Ohio.
And her co-sponsor, Democrat Rep. Kent Smith of Euclid, says the OhioSounds tax credit is similar to ones in Louisiana and New York: "With other states catching on to this is a $6.9 billion industry, I just really think that the time is now is for Ohio to act."
The credit, set initially at a total of $3 million, would also refund 25% of the construction costs of creating music studios in Ohio, up to $50,000 per project.
The lawmakers note a film tax credit has attracted $119 million to Ohio its first two years.