Entertainment Industry in Texas
Prominent Texas stars are urging the entertainment industry to move productions to Texas with increased financial incentives, citing benefits like no individual income tax. However, state tax incentives for Hollywood productions are controversial, with studies showing low returns on investment.
Key Points
- Prominent Texas stars like Matthew McConaughey and Woody Harrelson are advocating for the entertainment industry to move productions to Texas
- Texas offers incentives but they are not as competitive as other states like Georgia
- State tax incentives for Hollywood productions are controversial and some studies show low returns on investment
Pros
- Potential for Texas to become the 'new Hollywood'
- No individual income tax in Texas
- Boost to local economies and job creation
Cons
- Controversial state tax incentives for Hollywood
- Low returns on investment in some states