California lures four TV shows from out of state with tax credits
As excerpted from San Gabriel Valley Tribune
“Today’s announcement means that in the first three months of this year, the tax credit program is responsible for creating more than 8,400 good-paying, below-the-line jobs in California,” added state Assemblyman Raul Bocanegra (D-Pacoima), who authored the $330 million-per-year 2.0 bill and recently introduced legislation to fund more entertainment job-training programs. “The tax credit is working, and California is winning the fight against runaway production.”
The CFC estimates the $57.3 million tax credits reserved for the latest 15 qualifying shows will generate $620 million worth of in-state spending, $235 million of which will cover over 4,400 crew and cast member jobs.