The state is offering incentives to encourage filmmakers to produce movies in Hollywood.
Press Release Distribution – Wired PR News – California is taking steps to encourage more filmmakers to bring movies to Hollywood. As reported by Reuters, the state is providing financial incentives that include tax credits for movies produced there, following a significant decline in the number of films produced in Hollywood studios over the last few years.
Paul Audley, president of the nonprofit organization FilmLA, is quoted in the report as stating of the decline, “In 2008 the worst numbers ever were recorded and the first six months of 2009 show a 50 percent drop from that. That can only be described as a disaster.”
As noted by Reuters, some believe the incentive program may not be sufficient enough to compete with those offered in other states.
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