California Governor Gavin Newsom boosts film tax credit from $330M to $750M to attract production.

California Governor Gavin Newsom announced on October 28 that the state's annual tax credit for film and television production will increase from $330 million to $750 million. This increase aims to attract filmmaking back to California, which has lost approximately $1.6 billion in production spending from 2020 to 2024 due to limited tax incentives and rising competition. The move is part of efforts to keep California competitive in the entertainment industry.

November 01, 2024
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