Pixar, Lionsgate and Paramount Among Recipients of Tax Credits
Summary
California is putting more money toward keeping film and television production in the state. Tax credits awarded to major studios and independent productions show how aggressively locations are competing for entertainment jobs.
Industry coverage this week reported that Pixar, Lionsgate and Paramount were among the companies awarded tax credits from California's latest allocation, totaling approximately $100 million. Production incentives are designed to offset eligible costs and encourage studios to shoot locally rather than move projects to competing states or countries. The issue has become more pressing as industry unions warn that a growing share of production spending is going overseas. A coalition of major Hollywood unions has also been pushing for a federal incentive to make U.S. production more competitive.