FilmLA makes plea for ‘vast expansion’ of Hollywood tax credit program to address production crisis
As a lifelong cinephile who has spent countless hours immersed in the vibrant world of Hollywood, I can’t help but feel a pang of concern when reading about the ongoing production crisis in Los Angeles. The city that once was the heart and soul of cinema is now losing ground to other locations offering more attractive incentives.
FilmLA, the entity responsible for film permits and monitoring on-set activities within the Los Angeles region, is advocating for an expansion of California’s movie and television tax credit scheme to help alleviate Hollywood’s persistent production predicament.
As a passionate cinephile residing in Studio City, I was intrigued by the scripted content study released on Wednesday by our local permit office. It showed that filming activities in our region dropped a notable 19.7% from 2022 to 2023. Moreover, California’s slice of the global production market shrank from a robust 22% to 18%, over the same timeframe.
In a statement today, FilmLA President Paul Audley noted that Greater Los Angeles is just one of numerous locations where movies, TV shows, and advertisements are produced.
As a strong advocate, I believe we need to ramp up our backing for California’s film industry. This includes significantly broadening the scope of the California Film & Television Tax Credit Program to attract more investments into our state. By doing so, we can boost the rate of industry investment within California.
According to a recent report by the Los Angeles Times, many experts and insiders in the entertainment industry believe that California’s $330-million tax credit program, which is smaller than what other states or countries offer, is the main reason why studios are less likely to film movies and TV shows in the state.
Discussions have centered around enhancing California’s tax incentive program, including its extension to cover commercial filming and salaries for actors and other key personnel. However, it’s generally agreed that a substantial increase in funding is crucial to match the competitive edge offered by locations like Georgia, New York, the UK, Canada, and others frequently chosen for production.
In a September interview with The Times, Colleen Bell, head of the California Film Commission, admitted that the state sometimes struggles to match other tax credit schemes dollar for dollar. However, she emphasized that California’s film industry still holds “substantial worth” due to its strong infrastructure and experienced workforce.
Audley stated, ‘The entertainment industry contributes roughly $43 billion to the state’s workforce earnings.’ However, he questions the sustainability of California, asking, ‘For how long can California survive, or provide prosperity for businesses and households, on an increasingly slimmer portion of a dwindling creation?’
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2024-10-10 00:01