State tax credits for the entertainment industry are not paying for themselves and expanding them could become an expensive race to the bottom – while not doing so could mean the state could lose its leadership in the entertainment industry.

Those were the conflicting conclusions of a report by the Legislative Analyst’s Office as the Legislature considers expanding the program to better compete with other states offering richer filming incentives

“Given that other states and countries are offering subsidies, it may be difficult for California not to provide subsidies and still retain its leadership position in this industry,” stated the report released Wednesday...

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