Governor Newsom Supports $1.65 Billion Film & TV Tax Credit Extension

SACRAMENTO – Together with Senator Anthony Portantino (D-La Cañada Flintridge) and the California Film Commission, Governor Gavin Newsom today announced his support for SB 485, which would invest $1.65 billion in the state’s Film & Television Tax Credit Program to extend it for an additional five years, through 2030. This program allocates $330 million per year in tax credits for the industry. “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 said.
The state’s Film & Television Tax Credit Program has been shown to generate $24 in economic activity for every $1 invested – spurring tens of billions of dollars in economic output, helping create over 110,000 jobs, and bringing shows and films to California.

Extending the Film & Television Tax Credit Program will help the state’s ongoing efforts to retain its status as the world’s film and TV production capital, a status long earned due to its superior crews, talent, infrastructure, weather, locations, and a host of other attributes that lead to business and creative success.

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