L.A. County Explores Tax Incentives, Fee Waivers And A Capital Fund To Help Local Film & TV Production After Strike
The L.A. County Board of Supervisors has taken steps towards boosting local film, TV, and digital production after the strikes, which was cited as a motivating factor by a report from the L.A. Economic Development Corporation, due to lost revenue.
The motion by the County Department of Economic Opportunity, in consultation with FilmLA, was passed with a unanimous 5-0 vote. It reads:
“Given the importance of the entertainment industry to the Los Angeles County economy, it is vital to proactively keep this industry located in the region and economically strong, the County can do this by ensuring we do not place additional barriers or burdens on filming, especially on County property.”
Among the mechanisms under consideration:
- Proposed incentive packages to attract foreign investment in film production
- Payroll and sales tax reductions for productions that shoot in unincorporated areas
- Tax reductions or deferments for production facility capital development projects
- A “creative economy evergreen capital development fund” to encourage expansion of emerging entertainment technologies such as virtual reality and artificial intelligence
- Reductions in regulatory and zoning barriers to building production facilities in the county
- A fee waiver program for lower impact and/or student productions that shoot in the unincorporated areas
- A plan to leverage vacant underutilized County properties for shared production space
This motion also directs county agencies to advocate in support of enhancing the California Film Tax Incentive program (such as increasing the tax credit), remove all fee and permit requirements for production scout visits to County property except for cost recovery for staff time, and engage with studios and unions to encourage young and diverse populations to learn more about and land jobs in the industry.
California Governor Gavin Newsom announced that he will join Los Angeles workers and labor leaders to “to sign legislation that will boost wages and support workers”. He put the economic impact of the strikes at more than $5 billion.
Source: Deadline
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The L.A. County Board of Supervisors has taken steps towards boosting local film, TV, and digital production after the strikes, which was cited as a motivating factor by a report from the L.A. Economic Development Corporation, due to lost revenue.
The motion by the County Department of Economic Opportunity, in consultation with FilmLA, was passed with a unanimous 5-0 vote. It reads:
“Given the importance of the entertainment industry to the Los Angeles County economy, it is vital to proactively keep this industry located in the region and economically strong, the County can do this by ensuring we do not place additional barriers or burdens on filming, especially on County property.”
Among the mechanisms under consideration:
- Proposed incentive packages to attract foreign investment in film production
- Payroll and sales tax reductions for productions that shoot in unincorporated areas
- Tax reductions or deferments for production facility capital development projects
- A “creative economy evergreen capital development fund” to encourage expansion of emerging entertainment technologies such as virtual reality and artificial intelligence
- Reductions in regulatory and zoning barriers to building production facilities in the county
- A fee waiver program for lower impact and/or student productions that shoot in the unincorporated areas
- A plan to leverage vacant underutilized County properties for shared production space
This motion also directs county agencies to advocate in support of enhancing the California Film Tax Incentive program (such as increasing the tax credit), remove all fee and permit requirements for production scout visits to County property except for cost recovery for staff time, and engage with studios and unions to encourage young and diverse populations to learn more about and land jobs in the industry.
California Governor Gavin Newsom announced that he will join Los Angeles workers and labor leaders to “to sign legislation that will boost wages and support workers”. He put the economic impact of the strikes at more than $5 billion.
Source: Deadline
Share:
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