Overcast
74FOvercastFull Forecast

Tax credit luring pre-Broadway shows to Chicago

CHICAGO (AP) — The new musical "Kinky Boots" enjoyed a pre-Broadway run at a downtown Chicago theater this fall thanks to a little-known tax break aimed at luring productions to Illinois.

"Kinky Boots," based on a 2005 movie, and new musical "Big Fish" are the first productions to apply for a certificate making them eligible for the credit.

The statewide tax break is worth up to $500,000 per production or a cap of $2 million a year for eligible pre-Broadway shows or long-run productions. Producers say it was instrumental in bringing the musicals to Chicago instead of elsewhere.

The credit is being offered as Illinois is mired in a financial crisis. Some financial experts are skeptical of the timing of the move. But proponents say the musicals are evidence of the credit's success.

Comments

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

Reader Poll

What's your level of optimism regarding the upcoming Bears season?
Very optimistic
Slightly optimistic
Not very optimistic
It's going to be a disaster