Forum Views ()
Forum Replies ()
Read more with google mobile :
Movie tax cuts 'help struggling California economy'
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Asia Pacific
World
Movie tax cuts 'help struggling California economy'
AFP - Sunday, August 1
Send
IM Story
Print
Movie tax cuts 'help struggling California economy'
LOS ANGELES (AFP) - – A year-old program granting movie studios tax breaks for filming in California has saved jobs and should yield two billion dollars in direct spending, Governor Arnold Schwarzenegger said.
In a statement released Friday, the governor said the program was "creating and retaining tens of thousands of jobs and generating spending in California."
"This is exactly why I fought so hard for tax credits in last year's budget," Schwarzenegger said. "Just the first two years of this incentive will generate two billion dollars in direct spending, with even more to come."
The program, passed last year, allows the state to give up to 200 million dollars in tax breaks to production companies in its first year, and up to 100 million a year thereafter through the 2013-2014 fiscal year.
It was intended to help the state battle its ballooning deficit and keep jobs and money from the massive movie industry in California.
In its first year, Schwarzenegger said, 77 projects benefited from tax breaks, including 51 feature films, seven television series and 14 made-for-television movies.
He said the program had generated over 730 million dollars in wages paid in-state and that beneficiary projects had hired 18,200 crew members, 4,000 cast members, and over 100,000 extras for movies and television series.
In recent years, production companies have flocked away from California and US entertainment industry capital Los Angeles, taking advantage of tax breaks offered by other states, including Georgia, Louisiana and New Mexico.
The Milken Institute estimated in a recent report that the state has since 1997 lost 10,600 jobs in the entertainment industry and another 25,000 jobs indirectly related to the industry, a total loss for the state of around 4.2 billion dollars.
Recommend
Send
IM Story
Print
Related Articles
Serbian film 'Tilva Ros' wins Sarajevo festival AFP - 1 hour 1 minute ago
Movie tax cuts 'help struggling California economy' AFP - Sunday, August 1
US-ENTERTAINMENT Summary Reuters - Saturday, July 31
As Emmys host, Jimmy Fallon aims not to offend Reuters - Saturday, July 31
Second woman sues Casey Affleck for harassment Reuters - Saturday, July 31
News Search
Top Stories
Dibaba wins women's 10,000m
Chelsea Clinton tying the knot in lavish, secretive wedding
New BP boss off to Russia to mend fences: report
Engineers prepare to seal ruptured oil well
US growth slows fueling fears over recovery
More Top Stories »
ADVERTISEMENT
Most Popular
Most Viewed
Most Recommended
Calcium supplements linked to heart attacks: study
Engineers prepare to seal ruptured oil well
Argentine students crack three-decade-old murder mystery
US growth slows fueling fears over recovery
US Fed official warns of 'Japanese-style' stagnation
More Most Viewed »
Parachuting donkey shocks Russian beachgoers
Argentine students crack three-decade-old murder mystery
World's first full face transplant man appears on TV
Paris Hilton caught with cannabis in handbag
Calcium supplements linked to heart attacks: study
More Most Recommended »
Elsewhere on Yahoo!
Financial news on Yahoo! Finance
Stars and latest movies
Best travel destinations
More on Yahoo! News
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
Also on Yahoo!
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
Site Highlights
Singapore
Full Coverage
Most Popular
Asia Entertainment
Photos
World Cup 2010
Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Privacy Policy
- Terms of Service
- Community
- Intellectual Property Rights Policy
- Help
Other News on Sunday, 1 August 2010 'Flash floods kill at least 65 in Afghanistan'
New BP boss off to Russia to mend fences: report
Hackers pick up where Facebook privacy leaves off
Afghan official: 3 die in Kunduz suicide bombing
Mexico police free journalists seized by drug gangs
|
Dibaba wins women's 10,000m
Chelsea Clinton tying the knot in lavish, secretive wedding
MSF suspends aid to south Sudan region after attacks
|
Colombia says never thought to attack Venezuela
|
Pakistan spy chief scraps UK trip on "terror" remarks
Tseng on song at British Open
Two China mine industry accidents kill 17, trap 24
Sri Lankan, Hawaiian sites make world heritage list
Kashima maintain J-League lead
Teen Dutch sailor to head off Wednesday for solo world bid
All Blacks destroy Wallabies in Tri Nations rout
Movie tax cuts 'help struggling California economy'
"Black box" recovered from Pakistan crash site
British sculptor's cast-iron humans conquer Austrian Alps
'Reliance, Universal in talks for Indian theme park'
Roadside bomb kills six in Afghanistan
Russia fires cover 100,000 hectares
British police hold two over MI6 parcel bomb
|
UAE to suspend some Blackberry services
British PM facing rough ride in Pakistan
Bomb found at Britain's MI6 spy agency
Israel strikes Gaza tunnels after rocket launch
|
Hacker makes mobile phone snooping affordable
Debate on death and taxes heats up as billionaires fall
Six Afghan civilians die in roadside bomb blast
|
Frenchman, 80, freed after year in wife's laundry prison
Israel strikes Gaza tunnels after rocket launch
Brazil offers asylum to Iranian woman facing stoning
|
US-TECH Summary
Brazil offers asylum to Iranian woman facing stoning
Mexican police free journalists seized by drug gangs
|
Japan mobile phone makers to roll out 'augmented reality'
6 Afghans killed when minibus hits roadside bomb
Iraq civilian death toll almost doubles in July
|
Hack attack hits ATM jackpots
MSF suspends aid to south Sudan region after attacks
Philippines says arrests key massacre suspect in south
|
Mysterious 'insurance file' posted on WikiLeaks
South Korean killed by North Korean mine: report
|
Indian troops enforce strict curfew in Kashmir
Top security as Chelsea Clinton ties the knot
UAE to suspend Blackberry service on security fears
|
Philippines says arrests key massacre suspect in south
Heat on coach after Wallabies defeat
Philippine president steps into airline row
South Korean killed by North Korean mine
Seven hours the magic number for sleep: study
Ex-Aussie PM threatens legal action over leaks claim
Philippines remembers Cory Aquino, democracy icon
Greek tourism reels from fuel shortage, strikes
Bedbugs take bite out of Big Apple
Drifting N.Korean mine kills S.Korean
Malaysia 'Imam Idol' seeks to put friendly face on Islam
Pregnancy denial syndrome: a case for defence?
Eerie Munch prints get US National Gallery retrospective
Tens of thousands march in Sweden Gay Pride
Sex sells at China computer game show
Trade ban prompts N.Korea to find Chinese partners: report
Rowers break 114-year-old Atlantic crossing record
Serbian film 'Tilva Ros' wins Sarajevo festival
China's manufacturing activity slows in July
S.Korea trade surplus widens in July
Growth in Chinese manufacturing continues to slow
24 remain trapped in flooded coal mine in NE China
Japanese user claims Twitter's 20 billionth tweet
Israeli warplanes hit Gaza after new rocket attack
Death toll climbs as Russia forest fires spread
Floods wreak havoc across Pakistan, over 1,000 killed
|
Japan robot brings visitors home by video-phone
Dutch troops leave Afghanistan after four years
Indian police fire on protest in Kashmir, two dead
|
China, Vietnam, Iran win UNESCO heritage honours
WikiLeaks guilty, at least morally: Robert Gates
|
Iran rebuffs Obama's call to free U.S. detainees
Pakistan president to visit Britain amid terror row
|
Iraq civilian death toll almost doubles in July
Mugabe lashes out at West over Zimbabwe sanctions
|
Qaeda says held talks on hostage killed in Sahara
|
6 Afghans killed when minibus hits roadside bomb
Anxiety grips Kenya's Rift Valley farms over vote
|
Pakistan flood toll tops 1,000 as cholera emerges
Pakistan flood toll tops 1,000
Flood toll in China's northeast rises to 100
Floods wreak havoc across Pakistan, over 1,000 killed
Hong Kong people rally to save Cantonese language
US-ENTERTAINMENT Summary
Chelsea Clinton weds at exclusive New York estate
Aussie PM struggles with election campaign
Jazz singer Jarreau leaves hospital in France
Yellow lobster pulled from RI's Narragansett Bay
Folau double sinks NRL leaders Dragons
3 inmates escape from northwest Arizona prison
'Overwhelming emotion' as Chelsea weds in white
N.Korea renews retaliation threats ahead of US envoy trip
Random House sees e-book sales jumping: CEO
|
Chinese rescuers battle to save 24 trapped in mine
Bangladesh garment workers in new clashes with police
Philippines govt intervenes to resolve airline row
Jazz singer Jarreau leaves hospital in France
|
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights