Tax credits could revive hamstrung Hollywood business

The video discusses the challenges facing Hollywood as production moves to cheaper locations. California is responding with a proposed $400 million expansion of its film and TV tax credit program to retain projects. The shift to global filming locations is driven by cost and diversity of settings. A Film LA report highlights a 20% drop in local production, contrasting with more favorable environments in other regions. The video also explores the potential benefits of local production, such as enhanced collaboration, and the limitations of the current tax system, which often leads to projects being denied incentives and relocating.

What does Tom McRae suggest about the benefits of local production?

What is the current issue with California's tax break system for productions?