Audio By Carbonatix
Governor Gavin Newsom has proposed increasing the money available for film and television production incentives in California to $750 million annually from $330 million, his office said on Sunday.
Newsom's office said the tax credit expansion was to lure some lost filmmaking production back into Hollywood's home state, which has recently been affected by limited tax credit funding and increased competition.
California lost an estimated $1.6 billion in production spending due to limited tax credit funding between 2020 and 2024, Colleen Bell, the Director of the California Film Commission, said.
"California needs to keep pace with competing states and nations in providing aggressive tax incentives," Bell added.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Edem warns youth against drug abuse at 9th Eledzi Health Walk
3 hours -
Suspension of new DVLA Plate: Abuakwa South MP warns of insurance and public safety risks
3 hours -
Ghana’s Evans Kyere-Mensah nominated to World Agriculture Forum Council
4 hours -
Creative Canvas 2025: King Promise — The systems player
4 hours -
Wherever we go, our polling station executives are yearning for Dr Bawumia – NPP coordinators
5 hours -
Agricultural cooperatives emerging as climate champions in rural Ghana
5 hours -
Fire Service rescues two in truck accident at Asukawkaw
5 hours -
Ashland Foundation donates food items to Krachi Local Prison
5 hours -
Akatsi North DCE warns PWD beneficiaries against selling livelihood support items
5 hours -
Salaga South MP calls for unity and peace at Kulaw 2025 Youth Homecoming
7 hours -
GPL 2025/2026: Gold Stars triumph over Dreams in five-goal thriller
7 hours -
Ibrahim Mahama supports disability groups with Christmas donation
8 hours -
2025/26 GPL: Berekum Chelsea come from behind to beat XI Wonders 3-1
8 hours -
NACOC dismantles drug dens in Eastern and Greater Accra regions in ‘Operation White Ember’
8 hours -
GPL 2025/26: Aduana fight from two goals down to draw against Young ApostlesÂ
8 hours