Los Angeles Mayor Karen Bass recently took a significant step towards bolstering the entertainment industry in California by assembling the Entertainment Industry Council. This move follows Governor Newsom's ambitious proposal to increase the California Film & Television Tax Credit Program from its current $330 million to a whopping $750 million annually, as reported by the Mayor's Office. The timing is crucial, as the state ramps up efforts to retain and draw productions amidst fierce global competition for entertainment industry investments.
In 2009, we created California’s Film and Television Tax Credit Program to support our entertainment industry.
— Mayor Karen Bass (@MayorOfLA) October 27, 2024
Today, I’m proud to stand with @CAgovernor Newsom as he unveils a HISTORIC proposal to expand the program.
To the entertainment industry: we have your BACK. pic.twitter.com/wWoLeO3I4t
Industry leaders are rallying behind this expansion, recognizing how the tax credits have historically played a central role in fostering growth and employment within the sector. In a meeting hosted at Raleigh Studios by Hackman Capital Partners, Governor Newsom and Mayor Bass stressed the need to quickly adapt and expand the tax credit program. In efforts to further cement California's position as the entertainment capital, upgrades to iconic L.A. studio lots like Television City and Radford Studio Center are also underway, illustrating a stronger push to keep production jobs in-state, a spokesperson for Hackman Capital told the Mayor's Office.
At the heart of the expansion, initiative is the creation of nearly 200,000 jobs and the generation of tens of billions in investments. Michael F. Miller of IATSE acknowledged the competitive pressure from other countries and supported the Mayor's action, stating, "We need to level the playing field," according to a statement made by the Mayor's Office. Mayor Bass's foresight was applauded by the Chair of the California Film Commission, Wendy Greuel, who emphasized her ongoing advocacy for filming in California—a sentiment echoed by the statements of others in leadership roles within the industry.
Furthermore, the Director of the Motion Picture Association, Charlie Rivkin, expressed confidence in the Legislature working to swiftly implement the necessary enhancements to the program, highlighting Governor Newsom's commitment to the industry's future. Directors Guild of America's Western Executive Director, Rebecca Rhine, also voiced the urgency of the matter, tying the proposal's success directly to the livelihood of Californian families, as per the Mayor's Office.
