Gavin Newsom Gives $330 Million More to Hollywood Amid California Fires, Crime Spike, Homeless Crisis
David Ng 22 Jul 2021
As California sees alarming spikes in crime, homelessness, and wildfires, Gov. Gavin Newsom (D) is giving more free money to Hollywood, increasing state tax credits for TV and movie productions by a whopping $330 million.
On Wednesday, Gov. Newsom, who is facing a recall election in September, signed into law Senate Bill 144, which expands California’s film and television tax credit program by $330 million, bringing the available money for productions shooting in the state to $660 million over the next two years.
The bill also rewards certain productions that promote diversity. Of the $660 million, $150 million is set aside for productions that shoot on newly built sound stages in Los Angeles County. Those productions can receive extra tax credits if they meet certain diversity criteria.
California’s tax credit program is intended to lure productions away from Georgia, New York, and other states that offer generous financial incentives. While production activity creates local jobs and helps ancillary businesses like hotels and restaurants, state incentives are often controversial because taxpayers bear the financial burden and the net benefit to the state is often unclear.
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https://www.breitbart.com/entertainment/2021/07/22/gavin-newsom-gives-330-million-more-to-hollywood-amid-california-fires-crime-spike-homeless-crisis/
