California’s star is dimming.
The Golden State saw 20% fewer movie and TV projects filming in the state compared to a year ago —despite Gov. Gavin Newsom’s massive tax incentives for Hollywood, a new report found.
Spending on big and small screen productions also fell 22% year-over-year, according to an analysis by The Hollywood Reporter.
The slump came even after Democrat Newsom signed legislation doubling California’s film and TV tax credit program from $330 million to $750 million annually, in an effort to keep such projects local.
Meanwhile, rival states are cashing in.
New York had a 31% jump in film and TV production as Hollywood increasingly looked elsewhere.
In New Jersey, filming surged 75% in the fourth quarter and production spending rose 12%, fueled by generous tax breaks and new studio developments. Illinois also posted major gains, with filming up 70% year-over-year and spending climbing 46%.
The shifts suggest California is losing well over $1 billion in production spending to other states — even after rolling out its biggest incentive boost yet.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
