The governor wants to increase incentives to film and television to $750 million a year. Further changes may be on the way as the migration of production from the state borders on an exodus.
These productions all initially filmed in California but were convinced to leave at least in part due to more lucrative tax credits in others regions. Now, as runaway production and Hollywood cost-cutting threatens the state’s hold on the film and television business, Gov. Gavin Newsom is stepping in.
Further changes to the program have yet to be finalized. Potential amendments could affect the maximum amount a single production can receive in tax relief and what types of expenditures qualify for incentives. For some of these workers, the financial difficulties during the strikes and their aftermath have been significant: people have sold homes, lived out of cars and RVs and frequented food banks, with some leaving the business entirely for other fields. Increasing tax incentives to productions across the state emergedfor the situation in June during labor negotiations for crew members who belong to the Los Angeles-area Hollywood Basic Crafts union coalition.
According to Rhine, the DGA and other industry unions have"spent a lot of time" talking to Newsom's administration about their production concerns —"the high level of unemployment, the amount of work leaving the country, the inability to compete effectively with incentives elsewhere," she says."And I think that the governor was listening.
With tax credits, productions may more easily be able to stomach higher costs for labor and shooting permits, among others things, in California compared to other regions. Canada and Australia offer the most lucrative tax relief on this front. Productions can get at least 30 percent of their post, digital and VFX spend back in those regions. In March, the U.K. unveiled a five percent bump and removal of the 80 percent cap for VFX costs in the country to stay competitive.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Locked On Spurs: Final Media Day Thoughts Before Spurs PreseasonThe San Antonio Spurs begin their preseason slate Monday against the Oklahoma City Thunder. Before that action commences, here are some final Media Day thoughts, courtesy of Locked On Spurs.
Read more »
Spurs Week: Previewing the San Antonio Spurs' Shooting Guard UnitThe San Antonio Spurs don't have nearly as many two-guards as they do ball handlers, but there are some solid players who fit such a mold. Here they are, and what they could provide next season.
Read more »
Spurs Starter, October 21, 2024: Spurs Introduce 2024-25 Season RosterYour daily briefing on what's going on with the San Antonio Spurs, including news, draft and more.
Read more »
San Antonio Spurs center Victor Wembanyama ready to step on gasFirmly behind the Spurs' wheel, San Antonio Spurs center Victor Wembanyama ready to step on gas
Read more »
Spurs Starter, October 3, 2024: Spurs Announce Official Performance Water PartnerYour daily briefing on what's going on with the San Antonio Spurs, including news, draft & more.
Read more »
Spurs Starter, October 24, 2024: Spurs to Host Season Opener Watch PartyYour daily briefing on what's going on with the San Antonio Spurs, including news, draft and more.
Read more »