As part of the $100 billion "California Roars Back" plan, this move would boost the existing $330 million tax credit program by nearly 10 per cent, allowing the state to dole out a total of $360 million annually to qualify film and television projects, Xinhua news agency quoted Newsom as saying on Friday.
According to the Los Angeles City's Economic and Workforce Department, the industry contributed more than $30 billion annually to California and supported more than 200,000 local jobs before the Covid-19 pandemic.
Moreover, Newsom said this measure was designed to show the state's political gesture against those states who passed voter suppression legislation, like Georgia.
"This is an opportunity for those productions, TV and others, in places like Georgia, whose values don't necessarily always align with the production crews to consider coming back to the state of California," Newsom said at a press conference in Sacramento on Friday.
He added "that's what that $30 million intends to do".
In recent days, Newsom announced a number of high-dollar initiatives, including an additional $12 billion for homeless housing, $2 billion to combat wildfires, and $95 million for tourism.
Los Angeles, May 15
California Governor Gavin Newsom has announced a new measureby adding USD 30 million to boost the state's film and television tax incentive program.
Disclaimer: This story was supplied by an external content provider; we do not endorse or accept responsibility for its accuracy, completeness, or any outcomes from relying on it. It is for informational purposes only and does not constitute legal, financial, medical, or other professional advice. Laws and regulations vary and may change; readers should verify accuracy and compliance with local requirements and consult a qualified professional for tailored guidance.
