California’s Film Industry Is Growing Again!
California's expanded Film and Television Tax Credit Program is already making a major impact.
State officials recently announced that the program's first year is expected to generate a record-breaking $6.6 billion in economic activity and support nearly 35,000 jobs across California.
For our members, this is more than entertainment news. It is a sign that one of Southern California's most important industries is growing again and that growth could bring new opportunities for commercial real estate.
What You Need to Know
California recently expanded its Film and Television Tax Credit Program to help keep productions from moving to other states and countries that offer lower costs and financial incentives.
The program has already awarded tax credits to more than 170 film and television projects. State leaders believe these projects will create jobs, support local businesses, and strengthen California's economy.
The Los Angeles County Film Office is also helping productions navigate permitting and coordination with local agencies, making it easier for productions to film throughout the region.
How it Impacts You
Film and television productions create demand for:
- Office space for production companies and creative teams
- Industrial buildings used for equipment, storage, and set construction
- Hotels, restaurants, and retail businesses that serve cast and crew
- Parking facilities and transportation services
- Building services such as security, engineering, janitorial, and property management
When productions stay in California, they bring spending into local communities and support thousands of businesses that depend on a strong economy.
Southern California's commercial real estate market continues to face challenges, including office vacancies and rising operating costs. Policies that encourage job growth and business investment can help improve economic activity and support demand for commercial space.
A stronger entertainment industry can lead to:
- More companies leasing office and industrial space
- Increased activity in downtown business districts
- More customers for local businesses near commercial properties
- Additional jobs that support building occupancy and long-term investment
For many communities throughout Greater Los Angeles, the success of the entertainment industry directly affects the health of the local economy.
Stay Connected
The projected $6.6 billion economic impact of California's expanded Film and Television Tax Credit Program shows that targeted economic development policies can make a difference.
For our members, keeping film and television productions in California is about more than protecting a historic industry. It is about supporting jobs, attracting investment, increasing economic activity, and strengthening the commercial real estate market throughout Southern California.
We will continue supporting policies that strengthen economic development by retaining major industries and the jobs they provide throughout California.
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