Governor Gavin Newsom is pushing for a bold plan to help keep TV and film production in California.
Newsom’s proposal includes boosting the tax credit program from $330 million to $750 million in the next fiscal year.
Want to get caught up on what's happening in SoCal every weekday afternoon? Click to follow The L.A. Local wherever you get podcasts.
“One thing is obvious to anyone and the industry here is increasingly on life support and it needs a pattern interrupt,” he told reporters on Sunday. “We need to jolt and people looking to leave the email box over the last few months has been next level because I do think there was an expectation that things were going to turn around after some of the labor unrest and it didn't materialize.”
He added that there is “legislative enthusiasm.”
“The good news is there's a lot of muscle memory- as it relates to tax credits – [in] the last few years at the state level,” he told reporters on Sunday. “And so I'm confident in the process.”
At the same time, Newsom said that a tax credit program is not a guarantee of a production resurgence
“We got a lot of work to do and so I don't wanna over promise that this is quote unquote, the only solution,” he said. “Clearly, we have a lot of other ideas that need to be brought.”
L.A. City Council President Paul Krekorian told KNX News that the proposal is a “game changer."
“We will always be in competition with other states and countries around the world and we have to continue to fight to keep these good jobs here,” he said. “So it will always be a competition. This expansion - together with the change in structure to add refundability as well - will make us extremely competitive with all of the other, the other states who are offering an incentive.”
Colleen Bell, executive director of the California Film Commission, told KNX News’ Pete Demetriou that the boost could offer more opportunities.
“What we'll be able to do the increase is taking more projects. What does that mean? More film projects, feature film projects, independent, non-independent TV, shows that will sustain jobs, create jobs, and promote economic activity here,” she said.
The governor said he hopes the tax credit plan will be approved shortly after he delivers his budget to the Legislature in January.
Follow KNX News 97.1 FM
Twitter | Facebook | Instagram | TikTok
