A report released today by a consultant for N.J. Gov. Chris Christie’s administration says the state’s film tax credit and Urban Enterprise Zone program aren’t producing the expected results and could stand to be cut from the state’s budget.
The UEZ program of 1983 allows businesses like theaters to charge customers half the sales tax and use the revenue for funding to market the area. The Film and Media Tax Credit Program created in 2005 gives incentives to filmmakers shooting in the state.
But as NJ.com reports, the report — done by the New Jersey Institute of Technology, Delta Development Group and HR&A Advisors — says neither has drawn the desired revenue and both programs are diverting funds and attention to other aspects of the state budget.