As a longtime resident of California and a passionate follower of the entertainment industry, I find Gov. Newsom’s proposal to increase the state film incentive to $750 million a breath of fresh air. For years, I’ve watched my fellow Californians struggle to keep up with the ever-changing landscape of production, with studios constantly chasing better deals elsewhere. It’s like rooting for the Dodgers in the World Series – we always need to stay ahead!
On Sunday, Governor Gavin Newsom introduced a plan to raise California’s movie subsidy to $750 million, addressing demands for support in revitalizing the faltering entertainment sector.
During a press event held at Raleigh Studios in Los Angeles, Newsom emphasized the significance of making a strong statement by boosting the subsidy more than twice its current amount of $330 million.
As a passionate film enthusiast, I firmly believe that we must make a grand, impactful statement. With our dedicated team of supporters by my side, I see us as uniquely poised to take on this challenge. The time has come for us to seize this opportunity and make it happen.
The rise needs to be sanctioned by the Legislature in the upcoming year, and will become active on July 2025.
LA Mayor Karen Bass expressed her approval of the plan, stating that it could significantly boost California’s competitiveness by offering similar tax incentives as those found in states like New York and Georgia.
As it’s crucial in the World Series to maintain our lead, so too must we keep New York behind us,” Bass explained.
Charles Rivkin, head of the Motion Picture Association, expressed his anticipation for collaboration with the Legislature regarding the issue at hand. Furthermore, he extended gratitude to Governor Newsom for his dedication towards safeguarding California’s role as a prominent force in film, television, and streaming production.
Many union heads likewise approved of this action, stating that their members have faced difficulties finding work and some have been compelled to relocate.
Alex Aguilar, as the business manager for LiUNA Local 724 (a union representing workers in the industry), expressed that things have been challenging. “Hollywood,” he emphasized, “is the lifeblood of the entertainment sector; it must continue to thrive.
Production in the industry has yet to fully bounce back from the 2023 strikes, with output dropping significantly below its previous levels in recent times, based on permit data provided by FilmLA.
For years, the state has been trying to protect a distinctive industry from the danger of “escaping production” – as studios move towards better subsidies in countries like the U.K., Canada, and Australia, as well as other states within the U.S. In response, New York amplified its tax incentive from $420 million to $700 million in 2023, in an effort to keep pace with competition from neighboring states such as New Jersey.
As a passionate cinephile, I can’t help but voice my concern. Other film-producing regions, by offering tax incentives, are relentlessly poaching our jobs, and they’re winning. If we don’t act now, our cherished industry could vanish entirely. It’s crucial that production remains within our borders.
https://datawrapper.dwcdn.net/qeDsb/1/
In 2009, Governor Arnold Schwarzenegger initiated a subsidy program for the film and television industry, allocating $100 million annually. This amount was later raised to $330 million by Governor Jerry Brown in 2014.
In 2018, I was fortunate enough to be elected into office, and when California experienced an unexpectedly large surplus due to the pandemic in 2021, I temporarily boosted the incentive by $90 million.
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2024-10-28 00:46