L.A. Area Chamber Lauds Assembly for Film Production Tax Break Extension, Urges Senate to Follow Suit
June 2, 2011 2:00 pm
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LOS ANGELES — The Los Angeles Area Chamber of Commerce applauded the state Assembly today for voting to approve an estimated $500 million in tax credits for five more years as a way to help keep the entertainment industry here at home, and with it, maintain movie-making jobs.
“California has dozens of foreign rivals and more than 40 other U.S. states that are competing for this business with tax credits and rebates,” said L.A. Area Chamber President & CEO Gary Toebben. “That’s why it is so important that we renew this incentive package for five more years.”
“This one piece of legislation has helped create more than 20,000 new jobs over the last two years. It is crucial to thousands of families that we keep those jobs and Hollywood here where it belongs.”
“We now urge the Senate to follow the example of the Assembly and make this a priority when it’s their turn to vote later this summer.”
The Los Angeles Area Chamber of Commerce represents the
interests of business in L.A. County. Founded in 1888, the Chamber promotes a
prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com.
Mandy Denaux, 213.580.7532
Alejandro Guzmán, 213.580.7544