The crisis of runaway production, both in California and nationwide, never seems to stray too far from the headlines thanks to what a political football the issue has become.
Luring more TV and film shoots to Los Angeles though financial incentives remains a critical concern because of the tens of thousands of jobs that have disappeared in recent years. That’s made figuring out the best way to solve the problem a talking point in the gubernatorial race that will pit the Republican candidate, Steve Hilton, against the Democratic challenger Xavier Becerra in November.
Hilton in particular has drawn attention for his proposal to uncap the total amount of dollars that can be claimed in tax credits, a measure that has worked elsewhere in the U.S., according to Luminate analyst Tyler Aquilina.
“Those are expenses that many states that offer credits allow to be claimed for credits, and California currently does not allow that, which is a big sticking point in the film and TV industry,” said Aquilina on the latest episode of Variety‘s “Strictly Business” podcast. “A lot of people have argued that allowing credits on above-the-line costs would be a big help for their projects.”
Aquilina dug deep into the subject of runaway production in Luminate’s latest special report on the subject, “Hollywood Exodus.” The report is full of the latest relevant data and analysis on the trends shaping a dilemma with global implications.
