Gov. Arnold Schwarzenegger seeks boost in tax incentive
May 11, 2008
Gov. Arnold Schwarzenegger says California must increase tax incentives to movie and television studios as a way to keep them from moving their productions out of state.
He says incentives being offered by other states are luring studios away and costing California tens of thousands of jobs.
His comments on Friday came days after ABC Studios said it was planning to move production of “Ugly Betty” from Los Angeles to New York.
A new law there triples New York’s film tax credit. Companies can receive a 35% credit if at least three-quarters of their production is filmed in the state.
- From THR
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