California awards tax credits to 28 new films expected to boost state economy

Colleen Bell, Executive Director
Colleen Bell, Executive Director
0Comments

A new group of 28 films will be produced in California, following the latest round of awards from the state’s expanded Film & Television Tax Credit Program. The announcement was made by Governor Newsom, who highlighted the importance of supporting local economies through increased film production.

Among the projects are a film directed by Academy Award winner Ang Lee and a biopic produced by Snoop Dogg. These productions have been selected to receive incentives as part of an effort to encourage filmmakers to choose California for their work.

The awarded projects are expected to generate $562 million in economic activity throughout various communities in California. This move is part of a broader initiative aimed at celebrating the state’s creative history and fostering growth within its entertainment industry.

“28 films have received awards in the latest round of the state’s recently expanded Film & Television Tax Credit Program, celebrating the state’s creative history and the icons that are increasing production activity in California. Collectively, these projects are set to deliver $562 million in total economic activity for communities across the Golden State,” according to officials.

The tax credit program has played a key role in attracting major productions back to California, benefiting both local businesses and workers involved in filmmaking.



Related

Ron S. Jarmin, Deputy Director and Chief Operating Officer

Census Bureau releases fiscal year 2024 state government finance data

The U.S. Census Bureau has published new data tables from the Annual Survey of State Government Finances, covering fiscal year 2024.

Brian Moynihan Chair of the Board and Chief Executive Officer at Bank of America

Bank of America to redeem ¥27.8 billion senior notes ahead of maturity

Bank of America Corporation announced it will redeem all outstanding JPY 27,800,000,000 principal amount of its 0.534% Fixed/Floating Rate Senior Notes due March 18, 2027.

Ron S. Jarmin, Deputy Director and Chief Operating Officer

Census Bureau releases latest Business Trends and Outlook Survey data

The U.S. Census Bureau has released new data from the Business Trends and Outlook Survey (BTOS), which monitors business conditions and projections across the country.

Trending

The Weekly Newsletter

Sign-up for the Weekly Newsletter from LA Commercial News.