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
-
Kumasi mayor reveals plan for modern urban park to make Kumasi greener
2 minutes -
Prof. Agbango donates GHC 50,000 to Bawku SHS, urges old students to give back
16 minutes -
Director General of NaCCA must be fired for sleeping on the job – Ntim Fordjour
38 minutes -
Foh-Amoaning urges inquiry into curriculum after NaCCA withdraws teacher manual over gender content
50 minutes -
Learning to Stay Healthy in the New Year – Focus on the Basics
52 minutes -
Ghana aims to attain WHO Level Five preparedness under new health security plan
54 minutes -
African nations slam U.S. military strikes in Venezuela as threat to global sovereignty
1 hour -
President Mahama’s First Year: Cautious reform or dangerous complacency?
1 hour -
Prof Bokpin calls on gov’t to apologise over NaCCA SHS teacher manual response
1 hour -
UN Security Council weighs dangerous precedent set by US military operation in Venezuela
1 hour -
Semenyo’s personality fits right with Man City team – Bernardo Silva
1 hour -
One killed in road crash at Anyaa Market
1 hour -
China announces record $1tn trade surplus despite Trump tariffs
1 hour -
Global temperatures dipped in 2025 but more heat records on way, scientists warn
1 hour -
Police arrest man over alleged sale of 3-year-old son for GH¢1m
2 hours