QVC Receives More Than $5 Million in Tax Credits
West Chester goods hawker QVC saw more than $5 million in tax credits for fiscal year 2011-2012, according to newly released data. Awarded under the Film Production Tax Credit Program, the credits are promoted as a way for the area to create jobs, but policy analysts on both sides of the spectrum are calling it nothing more than crony capitalism.
See, QVC created a total of 227 full-time jobs in the area across 15 productions, but were given an additional $2.5 million in credits for 48 productions that were not completed by year’s end. As a result, organizations like the Center on Budget and Policy Priorities have labeled the $60 million Film Production Tax Credit Program somewhat of a sham.
Overall, says the CBPP, QVC creates “mostly temporary positions with limited options for upward mobility,” meaning that our state government is heavily subsidizing a company that doesn’t offer long-term solutions to the problem for which they’re being subsidized. Which sounds about right for us. [PAIndependent]