Backers of expanding California’s Film and Television Tax Credit Program have received a strong endorsement from a new study by the Southern California Association of Governments.
The study, released Thursday, asserts that the current program — funded at $100 million annually — created an 11% return on investment in its first three years in 109 projects; helped generate $4.3 billion in economic activity; supported 22,300 jobs; and generated $247.7 million in state and local tax revenues.
High-profile projects covered under the program included “Bridesmaids,” “The Lincoln Lawyer,” “The Social Network” and “We Bought a Zoo.” Television series brought the highest return on investment at 19%, while independent feature films generated a 15% return.
The Scag study also found that for every $1 of tax credit certificate issued, total economic activity in the state increased by $19.12; total state gross domestic product increased by $9.48; and $1.11 was returned to state and local governments in the form of tax revenues.
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