California Gov. Jerry Brown signed on Wednesday a law that extends the state’s film tax credit program to 2025.
The signature gives the program an additional five years after its 2020 expiration date. The program will provide for $330 million each year, the same amount currently allocated.
The state’s film and television production tax credit program began in 2009 and was amended in 2014 to raise the amount provided to television and film productions.
Supporters of the bill include the Valley Industry & Commerce Association in Van Nuys, Warner Bros. Entertainment in Burbank, Teamsters Local 399 in North Hollywood and on-location production coordinator nonprofit FilmL.A., in Los Angeles.
VICA President Stuart Waldman said the organization was proud to support the extension to keep the state competitive in the film and television industry.
“This tax credit has a proven track record for creating and keeping jobs in the film industry,” Waldman said in a statement. “This extension will maintain and support the economic vitality brought to California and to the greater San Fernando Valley region by film and television projects.”
The Entertainment Union Coalition, a group of California IATSE Council, Directors Guild of America, International Brotherhood of Teamsters Local 399, LiUNA Local 724, and SAG-AFTRA, said in the three years since the amended law went into effect, more than 45,000 of its working California members have been re-employed or employed, with $ 2.3 billion in wages paid to below-the-line workers.
“As productions continue to shoot in California, our members now know they can earn a living and stay with their families – well into the future,” the coalition said in a statement.
Mark Madler is a reporter with sister publication San Fernando Valley Business Journal, where a version of this article first appeared.
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