SAN FRANCISCO (KCBS RADIO) – The stage is set for another five years of film and TV tax credits in California.
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Gov. Gavin Newsom on Wednesday endorsed new tax break legislation while also giving a values-centered pitch for the entertainment industry to keep filming in the Golden State.
The measure, SB 485, would extend the current film and TV production tax program in California until 2030, offering up another $1.65 billion, or $330 million annually, into the industry. The current program had been financed until 2025.
"Decision makers, very often, it’s one of their primary considerations when choosing where to film their projects, whether or not they can access these important tax credits," California Film Commission executive director Colleen Bell told KCBS Radio. "It's very important that we continue to invest in our league here in California, and the extension of this program does exactly that."
Bell added that each dollar of investment yields $24 of economic activity, and helps in the creation of 22,000 jobs in the state.
The legislation complements a larger effort to keep entertainment production in California and prevent other states, which offer big tax breaks of their own, from siphoning production away.
Newsom, in an open letter and political advertisement which ran in Variety, urged that Hollywood keep production in California and away from states that have "waged a cruel assault on essential human rights."
His plea specifically referenced the Supreme Court's decision to overturn Roe v. Wade, which ended the constitutional right to an abortion.
"Today more than ever, you have a responsibility to take stock of your values — and those of your employees — when doing business in those states," Newsom said in the ad. "So to those in power to make decisions about where to film, where to hire, where to open new offices, we in California say: Walk the walk."
He called out Georgia and Oklahoma specifically as examples of states that are "quickly moving to strip reproductive freedom."
"California is ready to speak out and defend its value," Bell said. "We add that to the long list of many reasons why entertainment production is thriving here in the state and why it’s a terrific and wonderful place to shoot."
"California has always led the nation when it comes to protecting and advancing basic rights, and the governor’s message about film and tv production affirms that tradition," she said.
SB 485 is currently being considered in the state assembly.
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