Tax incentives for movie and television production are keeping jobs and billions of dollars in California, according to a study released Tuesday.
The state incentive program launched in 2009 has created 20,000 industry jobs, spurred more than $20 in spending for every $1 in tax breaks and generated $3.8 billion in total economic activity, according to the Los Angeles County Economic Development Corp.
Assemblyman Felipe Fuentes (D-Sylmar) has authored legislation seeking a five-year extension of the tax credit program, which is overseen by the California Film Commission. The tax breaks otherwise would expire in 2014.
Fuentes’ measure passed in the Assembly and is awaiting action in the Senate.
On Tuesday, Fuentes stumped for his legislation and unveiled the economic study on the Burbank set of the ABC drama “Body of Proof,” which was shot in Rhode Island before qualifying for tax incentives and moving to California.
Fuentes’ effort is backed by industry representatives, authors of the study and Los Angeles City Councilman Paul Krekorian, who as an assemblyman authored the bill that created the tax incentives to slow “runaway production.” He has since created separate incentives for filming in Los Angeles.