On Wednesday, Governor Gavin Newsom announced a five year extension to California’s film and television tax credit program, representing $1.65 billion in state funding to support the California’s film and TV industry until 2030 (that’s $330 million annually) Variety reports.
According to Newsom, the program has generated $24 in economic activity for every $1 invested, and has created over 110,000 jobs thus far.
Newsom has tied the new legislation to his ad campaigns targeting Florida Governor Ron Desantis and his outcry against the Supreme Court’s decision to overturn Roe v. Wade in June.
“As other states roll back peoples’ rights, California will continue protecting fundamental freedoms for all and welcome businesses that stand up for their employees,” said Newsom in a statement. “Extending this program will help ensure California’s world-renowned entertainment industry continues to drive economic growth with good jobs and a diverse, inclusive workforce.”
Newsom’s push to extend California’s tax credit program is part of an effort to combat the migration of film and TV productions from Hollywood to red states like Georgia, which grants very attractive film and TV tax reliefs.
The governor recently published an ad in Variety, imploring film and TV executives to “take stock of your values — and those of your employees — when doing business in those states.” In the ad, the Governor calls out “those states,” citing their assault on reproductive rights.
California Film Commission Executive Director Colleen Bell stated in a press release, “The governor’s announcement today speaks to the values held by so many people across the film and TV production industry. More than ever, California offers the best value and the best values.”
While entertainment companies such as Disney and Netflix still plan to shoot in states where abortion is banned, over 400 hundred television creators, showrunners and head writers working across major networks and streaming platforms have demanded that companies implement an “abortion safety plan” for employees.
Disney and Netflix have since pledged to pay for all travel expenses incurred by employees seeking reproductive care.
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