California Film Commission selects 26 film & TV projects for tax credits
The California Film Commission (CFC) has selected 26 projects for $100 million tax credits that the state government will provide to boost the state's showbiz economy.
The 26 film and TV projects were selected from a record 497 submissions via a lottery held last month. The projects include 13 TV series, 11 films and 2 made-for-television movies.
BET's "Being Mary Jane" received a tax credit of estimated $5.2 million. BET, which has plans to relocate its production headquarters from Atlanta to Los Angeles, said it would not have been able to make thee shift if it had not been selected for the tax credit.
The production company's senior vice president (production) Lucia Gervino said tax incentives would allow them to invest the savings in production and other operations.
Amy Lemisch, executive director of the California Film Commission, said, "California's tax credit program has proven to be our most effective economic development tool for retaining and attracting production jobs, spending and tax revenues."
Other projects selected for the tax credits include Sony Pictures Television's "Franklin & Bash" and "Justified"; and MTV's "Teen Wolf"; Universal Pictures feature film "Scarface" and 20th Century Fox's "All Summer Long - A Beach Boys Musical."
California's tax credit program aims to put an end to exodus of productions to other state of the country, such as Louisiana and New York, which offer generous production incentives to the entertainment industry.
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