California increases tax incentives for film productions to save jobs

[FWN Adm]

California Governor Gavin Newsom has proposed to double the film and TV tax incentive in what would see the state offer, the second highest of all behind uncapped Georgia.

Amid a post-strike production decline and concern that California is at risk of falling well behind other states – let alone countries – that offer highly competitive incentives, Governor Newsom has endorsed a huge increase.

Newsom, who unveiled the proposal at Raleigh Studios in Los Angeles on Sunday, said: "California is the entertainment capital of the world, rooted in decades of creativity, innovation, and unparalleled talent. Expanding this program will help keep production here at home, generate thousands of good-paying jobs, and strengthen the vital link between our communities and the state's iconic film and TV industry." Latest data from FilmLA showed that summer production in the Greater Los Angeles fell 5% year-on-year.