slides: NY Times Study Unveils RI’s Biggest Tax Incentives
Monday, December 03, 2012
The New York Times released a comprehensive investigation into taxpayer funded subsidies to private corporations. The series, entitled, UNITED STATES OF SUBSIDIES - a series examining business incentives and their impact on jobs and local economies.
The study indentified the biggest corporate subsidies by state - here are the top Rhode Island subsidies according to the New York Times.
Brotherhood - $15.6M
Remember the Showtime series about the two brothers from Providence? The cost of those movie credits were $15.6 million between 2008 and 2010.
The show, which some said was based on the Bulger brothers, but was filmed and had an imbedded Rhode Island storyline had guest appearances from many of RI's elected officials.
Bridesmaid - $4.14M
Bridesmaid Production, LLC scored tax credits of more than $4.14 million.
GoLocal has previously broken down the costs of the movie credits.
Including those by 38 Studios-linked lawyer Michael Corso's movies and the tax credits those received.
Corp Marketplace - $4 M
Corporate Marketplace (TCMPI) in North Kingstown has received $4 million in taxpayer support. The company that has a low profile does, "TCMPI produces software to online buyers and sellers, allowing them to complete transactions on the web without a third party," according to EDC's Web site.
According to EDC's Web site, the company employees, 20 plus.
- 38 Studios Insider Gets $625k in New Film Tax Credits
- 38 Studios Bankruptcy: Executives Say Tax Credits Could have Saved Company
- Connected Lawyer Pledged Tax Credits Before They Were Approved
- Donna Perry: Tax Credits, Loan Guarantees & RI’s Jobless
- E-Mails Reveal 38 Studios’ Desperate Attempts to Secure Tax Credits
- Historic Revival for Tax Credits
- NEW: Lt. Gov. Roberts Aims to Raise Awareness of Health Care Tax Credits
- PODCAST: 38 Insider Gets $625k Tax Credits
- Schilling in 2010: ‘We’re Not Looking for Tax Credits’
- State Report: Millions in Tax Credits, Voter Fraud & a Female Firefighter Sues the City
- Bill to Prevent Lost Revenue from Tax Credits
- Bills Would Increase Accountability for Tax Credits