Colorado nearly out of tax incentives for movie companies

Only 3 months into the 2016 fiscal year and Colorado is nearly out of its tax incentives for movie companies that want to film here. The state had $3 million in tax breaks, and now it has little more than $500,000. It’s cost the state Steven Soderbergh’s newest movie, which he decided to film in Park City, Utah instead. The incentives act as a quid-pro-quo agreement between movie companies and the state. They’re one of Colorado’s biggest leveraging tools when it comes to competing with different states for a movie. As of this year, Colorado can give $3 million; New Mexico $50 million; California $100 million; Utah $6.7 million; and Wyoming $1 million.