California Expands Film and TV Tax Credit Program to Retain Productions
Source: hollywoodreporter.com Record Number of Productions Receive Tax Incentives California is making an aggressive push to keep film and television productions within the state by awarding tax credits to a record 51 projects. This initiative comes at a time when the industry is experiencing a production slowdown due to an ongoing battle among states and countries to offer the most attractive incentives for filmmakers. According to the California Film Commission , this marks the highest number of projects selected in a single round of the state’s film and TV tax credit program. The selected productions are expected to employ approximately 6,490 cast and crew members, generating nearly $347 million in wages and an estimated $578 million in economic activity. Governor Gavin Newsom emphasized California’s legacy as the heart of the entertainment industry. “While other states try to chase California’s on-screen success, everyone knows the Golden State is the entertainment capital of the w...