We covered the $750 million in tax incentives that California doled out in order to try to keep film and TV production here. But when we did, we also talked about how this functioned more to lure new shows to stay here, because other shows had already left. So, what's happening with the incentives now, and are they actually working? The curtain has been peeled back, and we can see just how things are going. Let's dive in. Why Are We Keeping Productions in California? Well, Hollywood is here. And it was starting to get weird living and working in an industry where all the jobs you book send you somewhere else. There was a real chance Hollywood as we know it would disappear, especially with major studios opening offices and production houses elsewhere. In recent years, states like Georgia, New York, and New Jersey, as well as countries like the United Kingdom and Canada, have offered generous incentives, causing a "runaway production" problem for California. We saw thousands of lost jobs and a significant economic blow to the state's economy. The ramifications of this extend from top to bottom, including a loss of taxes, people leaving, and much more. The new incentives were meant to stabilize and reverse these things. Is It Working? I think it's a little too early to tell, but Los Angeles and Hollywood are back. But things are looking brighter. While I don't have the numbers on jobs and taxes and people leaving, we do...
Published By: NoFilmSchool - Wednesday, 27 August