Study: Tax Help Stemming Runaway TV, Movie Production
BURBANK (AP) — A study concludes that tax incentives to stem runaway movie and television production has created 20,000 California jobs and contributed nearly $4 billion to the state economy since 2009.
California's Film and Television Tax Credit Program gives $100 million a year in tax credits to Hollywood producers.
Podcast
KNX 1070's Pete Demetriou Reports
A Los Angeles County Economic Development Corp. study released Tuesday finds the tax incentives have been successful.
Assemblyman Felipe Fuentes, Los Angeles Councilman Paul Krekorian and ABC-TV "Body of Proof" executive producer Matthew Gross were on hand outside the show's Burbank set on Tuesday to release the study.
"Body of Proof" recently moved production back to California because of the tax credit program. The show expects to spend more than $43 million and create at least 200 jobs in the coming year.
(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
