{"id":68549,"date":"2024-11-06T11:13:21","date_gmt":"2024-11-06T19:13:21","guid":{"rendered":"https:\/\/lapost.us\/?p=68549"},"modified":"2024-11-06T11:13:21","modified_gmt":"2024-11-06T19:13:21","slug":"la-county-supervisors-support-governors-expansion-of-tax-credit-program-to-boost-entertainment-sector","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=68549","title":{"rendered":"LA County Supervisors Support Governor\u2019s Expansion of Tax Credit Program to Boost Entertainment Sector"},"content":{"rendered":"

Today, the Los Angeles County Board of Supervisors unanimously approved a\u00a0motion<\/a>\u00a0introduced by Supervisor Kathryn Barger and co-authored by Board Chair Lindsey P. Horvath that flexes Los Angeles County\u2019s lobbying muscle in support of\u00a0 Governor Newsom\u2019s newest effort to expand and more than double a tax credit program for businesses affiliated with film and television production.<\/p>\n

On October 27, 2024,\u00a0Governor Newsom unveiled a proposal<\/a>\u00a0 to increase the annual allocation\u00a0 to the California Film & Television Tax Credit Program from $330 million to $750 million. If approved by the Legislature, this proposal would take effect as early as July 2025.<\/p>\n

\u201cIt\u2019s no secret that production is leaving Los Angeles County because of increasing costs and a tough fiscal environment, so we need to show about showing our support for the industry locally,\u201d said\u00a0Supervisor Kathryn Barger<\/strong>. \u201cLast year, our Board voted to find ways to incentivize filming in Los Angeles County, including getting rid of red-tape that slows permit issuance and providing fee waivers. Governor Newsom\u2019s latest proposal is aligned with those relief efforts and will provide a much welcomed tax break for many. It\u2019s a great investment and a step in the right direction.\u201d<\/p>\n

\u201cLos Angeles County is the global capital of the creative economy–a position that must be protected,\u201d said\u00a0Chair Lindsey P. Horvath<\/strong>. “As other jurisdictions across the globe provide tax credits and other incentives to the industry, the Governor’s proposal to significantly increase tax credits to $750 million signals the industry’s value to California and aligns with Los Angeles County’s investments in our creative economy, including through our Entertainment Business Interruption Fund. We are grateful for Governor Newsom’s leadership and look forward to continued action to bolster an industry essential to our local economy and identity as Angelenos.”<\/p>\n

The motion notes that according to\u00a0FilmLA\u2019s 2023 Scripted Content Study<\/a>, production in Greater Los Angeles fell by 19.7% in 2023 in comparison to 2022. The\u00a02024 Otis Report on the Creative Economy<\/a>\u00a0found that the number of workers in California\u2019s creative economy fell by 70,840 in 2023, representing an eight percent reduction.<\/p>\n

The motion also directs Los Angeles County\u2019s\u00a0Department of Economic Opportunity\u00a0<\/a>to continue its partnership with the City of Los Angeles and Mayor Bass\u2019 Office to identify best practices and additional ways to support the Entertainment Industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Today, the Los Angeles County Board...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,6],"tags":[],"class_list":["post-68549","post","type-post","status-publish","format-standard","hentry","category-arts","category-ca-local"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/68549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68549"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/68549\/revisions"}],"predecessor-version":[{"id":68550,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/68549\/revisions\/68550"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}