California Awards $256M Tax Credits to 22 TV Productions Amid 400% Application Surge

California has awarded $256 million in state tax credits to 22 television productions as part of the first round under its expanded entertainment tax credit program, which increased the annual cap from $330 million to $750 million. This expansion has led to a nearly 400% surge in applications, with all qualified projects receiving credits, including new and recurring shows as well as productions relocating from other states like Texas and Canada. Eligible projects now include half-hour shows for the first time, broadening the range of productions benefiting from the incentives. Notable recipients include Apple TV+’s "The Studio" Season 2, HBO’s "The Comeback" Season 3, a new Larry David series, Netflix’s "Golf" starring Will Ferrell, and CBS’s "NCIS: Origins." The program is expected to generate $1.1 billion in economic activity and create thousands of jobs for cast, crew, and background actors, helping to revitalize California’s entertainment industry, which has faced production losses to other regions. Governor Gavin Newsom emphasized that the enhanced tax credits are key to maintaining California's status as the global entertainment capital.