Mayor James Hahn has proposed a new incentive to protect Los Angeles’ entertainment industry from being lured away by other cites, states and countries offering strong financial incentives. “Other cities, other states and other countries are luring our film industry away with powerful financial incentives. I’m fighting back with incentives of our own to make an offer that will be hard for filmmakers to refuse,” Hahn said in a prepared statement. “Protecting our entertainment industry isn’t about millionaire producers and move stars. It’s about the people who hang the lighting, drive the trucks and build the sets. And it’s about our economy,Hollywood generates $30 billion and 200,000 jobs for Los Angeles.” The mayor’s proposed incentive would reimburse productions for 5 percent of below the line costs of up to $12.5 million, for a maximum of $625,000 per production. The maximum amount the city would pay in the first year of the proposal would be $15 million, $2.5 million more than New York City’s recently enacted film incentive program offers. Hahn’s proposal is subject to approval by the Los Angeles City Council.
