PODCAST: Is New Jersey’s Film Subsidy Worth It? GSI President Audrey Lane Speaks with Dr. Charles Steindel

In the latest GSI briefing podcast, Audrey Lane, President of the Garden State Initiative, welcomes Dr. Charles Steindel, an expert in economic issues and government data reports, to discuss the value of New Jersey’s film subsidy. Dr. Steindel recently authored a report titled “Is New Jersey’s Film Subsidy Worth It?”

In this episode, Audrey and Dr. Steindel reflect on their initial discussions about film tax credits and Dr. Steindel’s skepticism towards them. Dr. Steindel shares his insights from his tenure with the state, and highlights the glamor associated with these credits but questions their actual economic benefit for the state.

The conversation delves into the limited job creation by the film industry, noting that it represents only a tiny fraction of the overall job market. Dr. Steindel also points out the significant financial resources diverted to film subsidies, which could otherwise be used for public infrastructure or other economic activities.

The discussion also touches upon other states’ experiences with film subsidies, such as Georgia and Louisiana, illustrating mixed results and questioning the long-term economic benefits. Overall, Dr. Steindel argues for a more market-driven approach rather than relying on subsidies to attract film productions.