California has lost more than 16,000 jobs in an eight-year period due to film and television production leaving the state, according to a new analysis released today.
The Milken Institute report says mounting job losses are coming from staggering competition from states like New York that lure production away from California with generous tax credits. Among the most recent poachings is “The Tonight Show,” which was lured by new incentives in the Empire State.
New York created its credit a decade ago and since then, it’s tripled and Governor Andrew Cuomo added some new language: For “relocated television productions” that spent “at least five seasons out of state,” “with an audience of 200 or more,” "that incur at least $30 million in annual production costs in the state.”
Sounds like an awful lot like the Tonight Show, no?
Kevin Klowden, director of the Milken Institute’s California Center and co-author of “A Hollywood Exit: What California Must Do to Remain Competitive in Entertainment – and Keep Jobs.”
Jessica Gould, reporter for public radio station WNYC in New York