Don Packer, President of the Massachusetts Production Coalition, said the tax credits have helped boost work at his post-production facility in Boston that now employs 18 people.
“The production incentive is not only creating jobs, it’s creating an industry,” Packer said in a statement.
Critics, however, portray the credits as a giveaway to a deep-pocketed industry at a time when the state is cutting back spending and Gov. Deval Patrick is pushing for tax increases to pay for improvements in transportation and education.
Patrick wants to cap the tax credits at $40 million a year.
An additional 61 projects were in pre-production, production, or postproduction and were expected to have been completed before 2012’s end.
Spending from projects in calendar year 2012 is estimated to be $313 million, resulting in lost tax revenue from tax credit claims of over $78 million, according to the report.
The report didn’t estimate any potential economic bump the state might have received as a result of increased tourism in Massachusetts because of the movies.
The Department of Revenue said the agency didn’t know of any reliable economic model to calculate that effect.