Florida awarded EA more than $9.1 million in tax credits during the state's 2011-12 fiscal year to subsidize development of the 2012 editions of three popular EA sports games: Madden NFL, NCAA Football and Tiger Woods PGA Tour. It was the largest amount one company has received in a single year in the history of Florida's entertainment-based incentive program.
Next year should be even better for EA, which generated more than $4 billion in worldwide sales during its fiscal 2012. The company is tentatively in line for $14.5 million worth of tax credits — to subsidize development of the 2013 versions of the same three video games.
EA is profiting so handsomely from Florida's entertainment incentives because it helped rewrite the state program. Records obtained by the Orlando Sentinel show that lobbyists for EA have worked closely with an influential Central Florida lawmaker — state Rep. Steve Precourt, R-Orlando — to mold the 9-year-old program to EA's advantage.
Thanks VGN for the tip!