Larry Mantle

A Hollywood Exit: What California Must Do to Remain Competitive in Entertainment - and Keep Jobs

Fred Baron, Rajiv Dalal, Kathy Garmezy, Joseph Henchman, Kevin Klowden, Larry Mantle, David Rockefeller Jr.

Facing an 11% workforce decline and a 50% drop in feature film production since 2004, California officials and industry leaders are advocating for legislation to replace the state's capped lottery system with a non-tradable, expanded tax credit program. Proposed reforms aim to increase annual funding to $1 billion and extend incentives to large-budget films and visual effects to counter the migration of crews to states offering higher subsidies. While fiscal critics warn of unsustainable "race to the bottom" dynamics citing Michigan's failed 40% credit, panelists argue that preserving the state's dense infrastructure and middle-class jobs justifies the investment to stabilize a shrinking domestic market.