From IndieWire · Brent Lang · · 40s
California Film Tax Credit Pushes to $1 Billion
California's film tax credit program expands to $1 billion annually as production jobs flee the state.
In brief
California's film tax credit program expands to $1 billion annually as production jobs flee the state. Governor Newsom proposes raising California's film and TV tax credit to $1 billion annually to counter job losses in production. Originally reported by IndieWire.
California production jobs decline
California production jobs fell 3.7 percent in the third quarter as the state struggles to attract entertainment industry jobs.
Newsom proposes $1 billion tax credit
Governor Newsom pushes to expand California's film and TV tax credit from $750 million to at least $1 billion annually.
State faces competition
California competes with New Jersey, New York, Georgia, the UK, and Hungary for film and TV production jobs.
Here's the gist
Governor Newsom proposes raising California's film and TV tax credit to $1 billion annually to counter job losses in production.
