California Gov. Gavin Newsom is hoping to lure Hollywood away from filming TV shows and movies in anti-abortion states by offering hefty tax credits.
Newsom, a Democrat running for re-election in November, said he will continue a tax credit program that would give $1.65 billion — or $330 million a year — to TV and film productions through 2030, according to reports.
Newsom made his case to move production out of anti-abortion states that “roll back people’s rights.”
“As other states roll back people’s rights, California will continue to protect fundamental freedoms for all and welcome businesses that stand up for their employees,” he said in a statement on his website. “Extending this program will help ensure California’s world-renowned entertainment industry continues to drive economic growth with good jobs and a diverse, inclusive workforce.”
California Gov. Gavin Newsom is hoping to lure Hollywood away from filming in anti-abortion states with tax credits.AFP via Getty ImagesIf the bill, dubbed “SB 485,” is passed, it would extend the credit past 2025, which is when the current tax credit is expected to expire.
Newsom also tweeted out an ad on Wednesday slated to run in newspapers that condemns anti-abortion states like Georgia and Oklahoma, which it claims have “waged a cruel assault on essential rights.”
Newsom’s bill comes a year after he signed a temporary increase to the program that added $180 million over two years to support Hollywood’s production elsewhere. The governor said he hopes to keep productions in California even though states like Georgia also offer competitive industry tax incentives.
The film and TV industry has upped its spending in Georgia from $2.9 billion in 2019 to $4.4 billion in the past fiscal year despite the passage of legislation that banned abortions after the detection of fetal heartbeats, according to the Hollywood Reporter.
Netflix’s hit series “Stranger Things” was shot in Georgia during the pandemic.Christopher Oquendo / SplashNewsGeorgia has been a hotspot for productions with shows like “Stranger Things” and “Atlanta” shooting in the state. That’s because the Peach State has no annual cap on its tax credits and it offers companies a 30% tax incentive if they use a Georgia peach logo in their productions.
