Touting the state’s 18-month-old film incentive program, Gov. Arnold Schwarzenegger has asserted that its $300 million in tax credits has created $2 billion in direct spending in California.
Schwarzenegger, in an announcement Friday, said the California Film & Television Tax Credit Program allocated $200 million in tax credits to 77 projects last year with another 30 projects set to receive $100 million in credits. The $2 billion figure includes $736 million in wages to crew members, according to data compiled by the state’s film commission.
