Hollywood Looks to Extend State Film Tax Credit to Boost Job Creation

California to Extend Film Tax Credit Image

Concerned that neighboring states are stealing away valuable production business, entertainment officials in California are lobbying to extend its film tax credit program for 6 more years.

Since going into effect in 2009, the tax credit has helped keep a number of major productions in the state, retaining and creating thousands of jobs for people with a variety of skills on their resumes.

A new bill recently introduced by Assemblyman Felipe Fuentes would extend the film tax credit, which is set to expire next year, through July 2018.

With our state facing a 12% unemployment rate, it’s critical to extend this program, which is a demonstrated job and revenue generator, Fuentes told the Los Angeles Times.

Paul Audley, president of the FilmL.A, a nonprofit group than handles city permits for the industry, told the news agency that there are more than 6,600 businesses that support the entertainment industry in the state.

They [lawmakers] need to understand that they are in a battle to keep employment here in California and to stop the poaching of jobs, Audley said “We need to start fighting back.

According to the Bureau of Labor Statistics, employment opportunities for professionals with broadcast and sound engineering experience on their resumes are expected to increase by 10% through 2020. 

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