08/01/2010 // Los Angeles, California, US // TiffNews10 // News Desk
Los Angeles – California governor Arnold Schwarznegger recently stated a program that provided tax cuts for movie studios who film in the state has helped California’s economy. As reported by AFP, the governor said the one year-old program has created jobs and facilitated spending.
Schwarznegger is quoted in the report as stating, “This is exactly why I fought so hard for tax credits in last year’s budget… Just the first two years of this incentive will generate two billion dollars in direct spending, with even more to come.”
The California governor further stated that the tax incentive program has led to more than $730 million in wages that has already been generated, which has significantly aided the struggling economy. Other states including Louisiana and Texas have begun offering tax incentives for filming in their states as well.
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