California tries to woo back movie studios
Marketplace Morning Report
Marketplace
4.5 • 928 Ratings
🗓️ 28 October 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Movie studies have always been associated with Hollywood and sunny Southern California, but high costs have driven many companies eastward to states like New York and Georgia in recent years in search of lower costs for filming. A look at the Golden State’s recent moves, including a tax credit just passed in an attempt to revive the state’s marquee industry. Plus, why Texas’s abortion restrictions risk causing a marked decrease in OB-GYNs willing to work in the state. And, we chat with Sara Taylor, president of the consulting firm deepSee, about incivility in the workplace in a time of tense election-year politics.
Transcript
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| 0:00.0 | Are we ourselves being jerks at work? I'm David Brancaccio. First, California's governor over the weekend |
| 0:08.6 | proposed a massive increase in tax credits to keep lucrative film and streaming production for moving |
| 0:14.2 | to points north and east. Shoot days in California are down and still down after the writers and actors |
| 0:20.5 | strikes. Marketplaces |
| 0:21.7 | Nova Sopho has details. California Governor Gavin Newsom's proposal would increase the budget for the |
| 0:27.1 | state's film and TV tax credit program to $750 million a year, up from $330 million. At a press |
| 0:34.4 | conference, Newsom said alarm bells are ringing in Hollywood. |
| 0:43.8 | The industry here is increasingly on live support, and it needs a pattern interrupt, and we need to jolt. |
| 0:53.5 | A recent report found production in the Los Angeles area was actually down 5% this summer, compared to last, when actors and writers were on strike. |
| 0:59.5 | Studios have cut back on the number of TV shows and films they're producing following a glut caused by streaming wars. |
| 1:04.3 | Meanwhile, other states and countries are luring away production with generous incentives. |
| 1:06.3 | I'm Nova Safo from Marketplace. |
| 1:10.0 | S&P futures are up 6 tenths of a percent. |
| 1:12.3 | NASDAQ futures are up 8 tenths of a percent. Dow futures are up 6 tenths of a percent. NASDAQ futures are up 8 tenths of a percent. |
| 1:14.5 | Dow futures are up 5 tenths percent now. |
| 1:22.5 | Federal authorities are expecting a national shortage of thousands of OBGYNs by 2030, about five years from now. |
| 1:28.0 | There's new evidence that the ban on most abortions in Texas is putting more pressure on this workforce. |
| 1:35.7 | A recent survey by the consulting firm Manat found 13% of Texas OBJN say they plan to retire early and 21% are planning to leave the state or have considered leaving due to the state's laws on |
| 1:41.3 | women's health and reproduction. Marketplaces Elizabeth Troval has that. Under Texas's abortion restrictions, Houston OBGYN, Dr. Todd Ivy, says he's seen |
| 1:51.1 | colleagues leave the state or retire. As time has gone on, then what we have found is that we're |
| 1:59.0 | seeing medical students and don't necessarily want to stay in Texas. |
| 2:03.7 | He says the abortion ban is making the state less competitive in his field. |
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