LOS ANGELES—Gov. Gavin Newsom was on location in the Hollywood neighborhood Oct. 27, where he unveiled a proposal to more than double the tax credit the state offers to producers of films and TV shows that shoot in California.
Appearing with industry union leaders, Los Angeles Mayor Karen Bass, and state Sen. Anthony Portantino (D-Glendale), Newsom announced a plan to boost the annual tax credit from its current $330 million to $750 million, which would represent the largest amount offered by any state except Georgia, which has no cap on its credits.
