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Newsom cites tax incentives luring Hollywood
California's efforts to revive its Hollywood film and television industry face significant challenges, as studios continue to relocate production overseas and to other U.S. states due to lower costs and established infrastructure elsewhere. Despite recent tax incentives aimed at bringing production back to California, industry experts argue it may be too late to reverse decades of decline, with Los Angeles experiencing a sharp drop in production jobs and facility closures. While government initiatives are projected to generate increased spending and jobs, many believe that without immediate action, Los Angeles may struggle to regain its status as the industry’s global hub.
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