Hollywood’s Golden State Stays Golden: 48 Film Projects Score Big with California Tax Credits

California’s film industry just got a major boost! Governor Gavin Newsom proudly announced on June 23rd that 48 exciting new film projects – spanning major studios and independent productions – have been selected to receive funding from the state’s coveted tax credit program.

In a statement, Governor Newsom highlighted California’s enduring legacy as the global entertainment capital, emphasizing the crucial role of skilled workers and creative visionaries in maintaining this position. He stressed that this success wasn’t accidental; it’s a testament to generations of dedication and innovation.

Last year, a bold proposal was put forward to significantly expand the tax incentive program to a staggering $750 million annually, more than double the current $330 million allocation. The goal? To solidify California’s position as the premier location for filmmaking and retain talented professionals within the state. While this expansion is still awaiting legislative approval, the latest round of funding demonstrates a continued commitment to the flourishing California film industry.