HOLLYWOOD, Calif. - The California Film Commission announced today a significant boost to the state's economy with $152 million in tax credits allocated to 12 television projects. This initiative is expected to generate over $1.1 billion in spending within California, providing jobs for 4,500 cast and crew members, as well as 50,000 background performers, measured in days worked.
Among the beneficiaries is Amazon (NASDAQ:AMZN) MGM Studios' "Fallout," a series relocating from New York, which alone is projected to spend approximately $153 million in qualified expenditures in the state.
The 12 projects, including "Fallout," three recurring TV series, and eight new series, are part of the Film and Television Tax Credit Program. They are projected to create around 1,253 filming days across California, including areas outside Los Angeles such as Oxnard, Ventura, Lancaster, and San Diego County. The tax credits aim to attract and retain production in California, create jobs, and support local economies.
"Fallout," set in a post-apocalyptic Los Angeles, is one of the largest series to relocate under the program, which has attracted 33 series since its inception in 2009. The move is seen as a homecoming for the series, which will employ approximately 170 cast and crew members.
The new lineup of television series includes projects from major studios like 20th Television and CBS Studios. Ryan Murphy's "Dr. Odyssey" and "Grotesquerie" are among the anticipated productions, while "NCIS: Origins" from CBS Studios offers a look at the early career of Special Agent Leroy Jethro Gibbs. Warner Bros. Discovery (NASDAQ:WBD) and Faith Media Distribution are also contributing new projects that will showcase California's versatility as a filming location.
The tax credit program, with a sunset date of June 30, 2025, has been extended for another five years through fiscal 2030-31. The next application periods for television and film tax credits are scheduled for June and July 2024, respectively.
Colleen Bell, Executive Director of the California Film Commission, highlighted the program's success in meeting its objectives, stating, "Our tax credit program is delivering precisely as intended: attracting and keeping productions filming in California, creating new job opportunities for our workforce, and bolstering our local economies."
This announcement is based on a press release statement from the California Film Commission.
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