On Wednesday, Gov. Gavin Newsom signed into law a $750 million film tax credit to give Hollywood the boost it desperately needs.
“It's alive. Not like it used to be, but it's soon going to be not just alive but thriving,” Gov. Newsom said during Wednesday’s press conference at the Ranch Lot Studios in Burbank.
The goal of this new tax credit is to lure productions back to Los Angeles
“This is the beginning of the next phase of a process that we all have a lot of work to do,” he said. “Not just the city of L.A., the county of L.A., the entire region, for that matter, other parts of the state.”
He added that they're also going to need President Trump to help stop production companies from filming in other countries.
“He’s talked about the importance of this industry, and we'd like to see him match the ambition,” Newsom said.
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“The Pitt” and “ER” actor Noah Wyle was there when the tax credit was signed into law. He said nothing beats shooting in L.A.
“This city has been growing talent for decades and decades and decades,” he said. “And that apprenticeship is worth a lot when you're going to make a film or television show. It shows up in quality.”
Applications for the new film tax credit open Monday, July 7th.
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