signed a bill on Wednesday that provides an extra $330 million for the film and TV industry, and also carries a new incentive to promote diversity on sets.The bill includes a new $150 million tax credit aimed at promoting the construction of new soundstages. That provision will be earmarked for productions that shoot at least 50% of their schedule on at a newly built studio facility.
Though the state has previously required reporting of diversity statistics, it has never before set a diversity hiring goal in the tax credit program.of more than 51,000 names taken from entertainment union rosters. An analysis of surnames showed that 16.1% of the names are Latino and 4.7% are Asian American — far below the state’s population for both groups.
Since 2015, the state has provided $330 million a year in credits to films and TV shows. The program is aimed at competing with other U.S. states, as well as the United Kingdom and Canada, that had used tax incentives to lure away much of the industry’s production work.
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