Dare I say…hope?
It’s payback time for the Golden State, after Gov. Jerry Brown signed off Wednesday on blockbuster legislation that super-sizes California’s TV and film tax credit bill.
“This will send a message to the entertainment industry and all of the other states and countries that California is open for business, and in a big way,” one of the bill’s authors, Assemblyman Mike Gatto, told TheWrap. “We hope they’ll realize the folly of trying to create artificial competition to try to steal our jobs, and that this will return the industry for good.”
The measure calls for $330 million in incentives to be allocated to TV and movie producers — more than tripling the current $100 million that’s available — and means that the state can strike back at the numerous states and countries that have gutted one of California’s signature industries by luring projects with juicy tax breaks over the past decade. Funding would begin in fiscal year 2015-2016 and run through fiscal year 2018-2019.
Yes, there is a larger conversation to be had about the business climate that forced the state’s signature industry to flee (much of it to Canada) in the first place but…baby steps. Some may see this as a band-aid but it is more like pressure on a hemorrhaging artery. Let’s get this done first and take the necessary steps after.
New York City was in a similar predicament in the early 1990s, for pretty much the same reason. Film and television production had almost completely stopped. City officials and labor unions worked together to bring business back and had great success.
California has been doing things poorly for so long, it will be a relief to one day get it back to doing the thing it’s best at.