Italian
Advocating for America’s Film and TV Production
Highlighting the Need for Competitive Incentives
Rep. Adam Schiff, anticipated to soon be a California senator, has recently voiced his support for federal measures aimed at maintaining film and TV production within the U.S. In a significant move, Schiff has approached the Bureau of Economic Analysis and the Bureau of Labor Statistics, seeking data to understand how foreign incentives have impacted the domestic industry.
“To ensure the U.S. retains its leadership in film and television production and to create more American jobs, it is imperative that we establish competitive labor-based incentives,” Schiff declared in his letter.
The Need for a Nationwide Film Initiative
For years, the entertainment industry has pushed for a federal-level film incentive program. Unlike the current state-specific tax credits in regions like Georgia, New Mexico, California, and New York, a unified national incentive could provide a consistent boost across the entire country.
A Decline in Domestic Production
The last three years have seen a stark decline in production levels in the U.S., a trend exacerbated by the industry-wide contraction and the 2023 strikes. Hollywood unions have often highlighted the attractive incentives offered by countries like the U.K., Canada, and Australia as key reasons for the migration of productions overseas.
IATSE’s Stance on Federal Incentives
Matt Loeb, President of IATSE International, has voiced strong support for a U.S. incentive, suggesting it would “level the playing field and address this imbalance.”
“We endorse the idea of a federal incentive for film and TV creation, provided it includes mechanisms to uphold labor standards,” Loeb emphasized. “Our commitment is to safeguard America’s entertainment industry, and we are eager to collaborate with our members, local unions, allies, and lawmakers to achieve this goal.”
Addressing the feasibility of such an incentive, Loeb remarked, “Whether it can be done remains to be seen. It’s a global industry. Every major production center worldwide has an incentive, except the U.S.”
Economic Implications and Policy Proposals
California’s Initiative
California Governor Gavin Newsom recently proposed a significant increase in the state’s tax incentive for production, suggesting a jump from $330 million to $750 million. This move aims to tackle the weak employment situation within the state. During a press conference, Newsom hinted at the possibility of federal support from a potential future president, Kamala Harris.
“The federal government has a role to play here,” Newsom remarked. “And I’ll give a nod to an Angeleno who might be our next president. She might have something to say about this.”
Industry Trends and Studies
Recent industry analytics and studies have painted a sobering picture for reality TV production, echoing sentiments about the necessity for supportive measures. The data underscores the importance of a well-structured incentives strategy to rejuvenate and sustain the industry.
while the road to establishing a comprehensive federal incentive is fraught with challenges, the collective push from industry leaders and lawmakers marks a pivotal step towards securing America’s standing in the global entertainment landscape.
Share this piece on your social networks to keep the conversation alive and to support the future of film and TV production in the U.S. Follow our site for more in-depth updates and discussions on industry trends.
