Hollywood hurt by limited film production incentives, California proposes to more than double it

Newsom’s office said the tax credit expansion was to lure some lost filmmaking production back into Hollywood’s home state, which has recently been affected by limited tax credit funding and increased competition.

California lost an estimated $1.6 billion in production spending due to limited tax credit funding between 2020 and 2024, Colleen Bell, the Director of the California Film Commission, said.

“California needs to keep pace with competing states and nations in providing aggressive tax incentives,” Bell added.