While Detroit Goes Bankrupt, Michigan Taxpayers Hand Disney's 'OZ' Nearly $40 Million in Film Credits
Disney’s "Oz the Great and Powerful," which was filmed in California and Michigan, had an estimated budget of $200 million, $39.7 million of which was subsidized by the state’s taxpayers in the form of Michigan film credits. The movie was filmed between July and December of 2011.
From Michigan Capital Confidential:
"Oz: The Great and Powerful," received $39.7 million of the $75.2 million the state of Michigan handed out to film producers. Ironically, the state film subsidy nearly matched the $39.8 million salary Walt Disney Chief Executive Robert Iger was paid in 2012.
This news comes on the heels of a new report by the Government Accountability Institute (GAI) that concluded Ben Affleck and George Clooney’s Oscar-winning film, Argo, received $6.21 million in California film tax credits and Quentin Tarantino’s Oscar-winning film, Django Unchained, applied for an estimated $8.4 million in film credits, pending audit and review by the state of Louisiana. Forbes recently reported that Hollywood millionaires and moguls rake in an estimated $1.51 billion in tax revenues annually through state film tax credits.
‘Oz’ officially opens on Friday.