California’s Bigger Tax Credits Reel In ‘Jumanji,’ Warner Films
The California government has doubled its annual film and TV tax credits to $750 million, aiming to attract more production work to the state. This increase has already yielded results, with high-profile projects like the "Jumanji" sequel and Warner Bros. films opting to film in California. The tax credit program, which offers a 20-25% credit on qualified production expenses, has been a significant factor in swaying production decisions. The state hopes this will lead to the creation of more jobs and economic activity within the entertainment industry. While the impact of the tax credit expansion is still unfolding, it represents a concerted effort by California to remain competitive in the global film and television production landscape. The influx of major productions is seen as a positive development for the state's economy and its status as a hub for the creative industries.
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