Monday, January 31, 2011

Movie Subsidy Story Attacks NMSU Study, No Basis Offered.

The Albuquerque Journal did a movie subsidy story yesterday.
In the story, there is this statement, "Arrowhead Center (at New Mexico State University) was directed to look only at pieces of the incentive program and almost certainly underestimated the value of film incentives."
The assertion appears halfway down column one on page A6, which is the jump.
No basis, no context and no attribution are provided. This is the most blatant kind of editorializing.
Arrowhead Center’s study is dated August 26, 2008. It was done for Legislative Finance Committee.
The study is straightforward. It used an input-output model and dealt only with the 25% rebate.
The Journal’s story also neglects to note that the other movie study, by the Ernst & Young accounting and consulting firm, was done for the state film office and the State Investment Council. The E&Y study liked the movie incentive. No surprise there.
The story did note criticism of E&Y by institutions including the Federal Reserve Bank of Boston.

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