Saturday, April 19, 2014
Inquirer Daily News

Corbett saves PA film tax break, boosts R&D tax breaks

Gov. Corbett is cutting state spending on colleges and schools, but he's boosting tax breaks to private business

Corbett saves PA film tax break, boosts R&D tax breaks

Despite sniping by conservative Republicans, Gov. Corbett has endorsed Pennsylvania tax breaks for movie makers. He also wants to deepen tax breaks for industrial research. Read full budget here. From his budget speech today:

"My budget retains an array of tax credits, not as a favor to businesses, but as a promise to their workers. New and growing industries, like the film industry that is growing around Pittsburgh and Philadelphia, need a government that knows enough not to shout 'cut' in the middle of production.

"The film tax credit, which we are retaining - and never thought to do otherwise - will attract jobs and pump money from outside the state into our economy.

"The Research and Development Tax Credit does the same. So my budget increases it.

"The computer industries springing up along the banks of the Monongahela, the pharmaceutical firms ringing Philadelphia, the chemical firms, the agricultural firms – all these deserve a break, so they can develop the next generation of medicines, the newest innovation in Apple computers or Microsoft programs. With these innovations they will create the next generation of jobs.  And jobs are what it’s all about."
Inquirer story on Corbett's budget here.
PA budget propaganda here.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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