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California Is Tripling Their Tax Credits for Film & TV Production Done In State

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    Just read a really interesting piece on how California is more than tripling the amount of tax credits they award the film and tv industry, in efforts to bring more entertainment production into their state. However you ultimately feel about how your Cali tax dollars are being spent, I think you will find this pretty enlightening. California Film Commission Unveils Details of How Tax Credits Will Be Awarded.

    Part of the piece that sums up the point:
    On Thursday, the California Film Commission unanimously passed draft regulations that will govern how the $330 million in annual tax credits will be disbursed. The regulations now go to the state Office of Administrative Law for final approval, so there still could be changes.

    The legislation more than tripled the amount of tax credits available to movie and TV projects, as well as expanded eligibility to include big-budget feature films, one-hour drama series and TV pilots. But perhaps the biggest change was in the way applicants will be awarded credits.

    A lottery system, in which the prospects for winning a tax credit was left to chance, is being replaced by a “jobs ratio,” a competitive ranking system in which money would go to projects that promise a proportional return in employment.

    I encourage anyone to read up on this that's remotely interesting, as it's a fascinating window into the entertainment business they I think people rarely hear about. I wonder if this is how every state tries to draw in business. What do you think? Is this a good idea, a job creator as it were, or a waste of taxpayer money?