Written by David Lewis on Nov 12, 2008. Posted in Incentive News

Schwarzenegger proposes tax breaks for industry

Arnold Schwarzenegger, the Governor of California, wants millions of dollars in tax breaks for film and television companies who shoot in the state.

The proposal is part of his plan to stimulate the state's failing economy. The state legislature has rejected previous attempts by Schwarzenegger and some lawmakers and tax experts call the idea a giveaway for companies that were unlikely to move out of state.

However, California is now one of only ten states who do not offer incentives. Five years ago 66% of all feature film production took place in California. Last year, the state claimed just 31%.

The governor is expected to unveil the proposal this week, after the Legislature opens a special session to address the state's fiscal crisis.

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