FOR IMMEDIATE RELEASE:                                                                                                          

Tuesday, May 31, 2011

SPRINGFIELD, IL – Illinois State Senator Mattie Hunter (D–Chicago) recently passed legislation creating a tax credit for live theater productions in an attempt to attract pre-Broadway and traveling productions to perform in Illinois.

“Theater productions that bring their show to our state help to boost our economy through jobs, production costs and marketing,” said Hunter.  “This tax credit will apply to the local theaters that will pass those savings on to the production company giving a reason to bring their shows to Illinois and keep them here for an extended time. By drawing new productions into the state, we are also helping local businesses because when people plan to go to a show, they usually make a night of it by eating dinner or meeting for drinks in a nearby restaurant.  We want to create incentives for live theater productions because we see them as benefits to the economy. “

House Bill 1355 would apply the tax credit to live theater productions whose labor and marketing expenditures would be greater than $100,000.  Productions must be scheduled for a Broadway show in New York in the next 12 months or long-run show that runs longer than eight weekends with at least six performances a week.  The measure states a cap of $2,000,000 for each theater production plus $500,000 for other costs paid to Illinois workers and businesses.

“The tax credit is also likely to lure in pre-Broadway productions to the state, giving our audience the opportunity to see great shows before they are hits on Broadway and ticket prices rise,” Hunter continued.  “Producers want to get a feel for the possible success of a show before opening on Broadway and they can gage audience and critic reviews by opening in other cities.  This will help give more incentive to bring their shows to Illinois as opposed to other states.”

According to an economic fiscal impact study of the theater company Broadway in Chicago (BIC), the organization brought in over $750 million in 2010.  The study also states that the total 2010 attendance to the five theaters run by BIC was over 1.7 billion people, 42 percent of which were from out of state. 

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