20 March 2014 12:01 AM, PDT | Variety - Film News | See recent Variety - Film News news »

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.

“You cannot look at »

- Dave McNary

Report a problem

Similar News Items

Man of Steel (2013)
Iron Man 3 (2013)
The Social Network (2010)

IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.

See our NewsDesk partners