Part 5/8:
As Hollywood faces increasing competition from states like New York and Georgia, combined with inflationary pressures, the call for reform is becoming increasingly urgent. Governor Gavin Newsom has proposed enhancing tax benefits for the film industry to revive California’s fading competitiveness, while various organizations advocate for the elimination of production taxes to attract filmmakers back. However, these measures may come too late; many within the industry have already left, looking for more favorable environments to flourish.