(The Center Square) – Does California need to pay Hollywood to make films in … Hollywood?
In a press release this week, Gov. Gavin Newsom pointed to the economic growth produced by subsidies for film and TV production in the state as a key part of his “California Jobs First initiative.”
“From bringing Fallout home to keeping classics in California, this program has helped our iconic, world-leading entertainment sector create tens of thousands of good jobs for Californians and generate billions of dollars for communities across the state over the past 15 years,” Gov. Newsom said.
But economists call claims about film subsidies vastly inflated. “Peer-reviewed studies are unanimous that the incentives do not spur economic growth, nor do they create a sufficient number of jobs to justify the cost,” Professor Michael Thom of the University of Southern California told The Center Square. “As California’s budget deficit balloons, taxpayers can scarcely
Read more…
