Entertainment & Sports
Nov. 19, 2024
Newsom's tax credit gamble to boost California's entertainment industry
Amid high living costs and talent retention issues, Governor Newsom's plan to incentivize local production could stabilize California's entertainment workforce and provide an economic boost following the 2023 SAG-AFTRA and WGA strikes.
California has long been synonymous with the entertainment industry, but its dominance is increasingly challenged as productions flock to tax-friendly hubs like Georgia, Canada, and Eastern Europe. In response, California Gov. Gavin Newsom has proposed an expansion of California's Film & Television Tax Credit Program from $330 million to $750 million annually. This initiative, administered by the California Film Commission, seeks to reaffirm California's role as the enter...
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