Paul Krekorian’s $400 Million Film and TV Incentive Headed to Senate Floor – ART WALK NEWS

Paul Krekorian’s $400 Million Film and TV Incentive Headed to Senate Floor

Following the Calif. State Senate Appropriations Committee’s unanimous (5-0) approval of an expanded California film and TV production incentive, LA City Councilmember Paul Krekorian, author of California’s original film and TV incentive, said,  “Today, the Senate Appropriations Committee sent a strong and clear message: California wants to keep ‘Hollywood’ where it belongs. Expanding the film and TV production incentive to $400 million shows the hard working men and women on the production line we are committed to preserving tens of thousands of middle-class jobs and investing in California’s future. I urge the full Senate to act quickly and Gov. Brown to follow suit.”

Then-State Assemblyman Krekorian’s 2009 incentive granted $100 million per year for qualified productions for five years. It was a huge success, resulting in $4.3 billion in direct spending and supporting 22,300 good California jobs with $1.6 billion in wages. In recent years, however, states like New York, Louisiana and others began offering more generous packages and taking production away. The new, expanded incentive will grant $400 million per year for four years and include big-budget productions costing $75+ million and one-hour TV shows.

Born and raised in the San Fernando Valley, Paul Krekorian is a member of the Los Angeles City Council, where he serves as the chairman of the Budget and Finance Committee.

Paul graduated from Reseda’s Cleveland High School before earning his B.A. in political science from the University of Southern California and a law degree from UC Berkeley. Upon graduating, he spent two decades practicing business, entertainment, and property litigation, while also devoting his time to reduce domestic and gang violence.

In 2006, Paul was elected to the California State Assembly, representing the 43rd District working to increase government accountability and transparency as co-chair of the Legislative Ethics Committee. In Sacramento, Paul worked on landmark legislation to improve the environment and authored the state’s first successful film and television production tax incentive, which stemmed the tide of runaway production and secured thousands of jobs.

In 2009, Paul won a seat on the Los Angeles City Council, where he has continued to advocate for public safety, open space and a dedication to providing the city’s core services.  Less than two years into his tenure, he was tapped to lead the important Budget and Finance Committee and has worked to improve the basic financial structure of the city of Los Angeles.

Paul lives in the San Fernando Valley with his wife and three children.