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Message From CEO
The slow and steady turtle never wins the race… It is the cocky and lazy rabbit who loses the race.
The moral of the story – Don’t squander your assets, or take successful outcomes for granted..
This seems to be a timeless message worth remembering -- whether you’re an individual working on a small project…, or the State of California believing that Hollywood will always be the center where motion pictures and television series will be produced.
The competitive dynamics of the marketplace are like none we’ve seen before… not simply because of an overall downturn in production, but because other states are offering far more generous tax credits and other incentives in a continuing effort to lure productions away from Hollywood (I use this term in the generic sense, not merely the geographic sense). Although California’s legislature has begun to wake up to what stands to be a daunting and irreversible trend, the incentives offered are not nearly commensurate with what other states are offering, or equal to the importance of our industry in the context of California’s economic well-being.
Often referred to as “rich man’s welfare,” this characterization tends to trivialize the working class men and women of our state who have contributed much to the success and technological evolution of the entertainment industry. Their financial well-being is directly tied to the number of productions that shoot in California…, and what they earn repatriates to the state and other businesses in countless meaningful ways. Tax credits and production incentives are not tantamount to “welfare,” and the notion that productions will stay in California in the absence of government support is a tortured theory that has been disproven time and time again.
For our company’s part, we have bet heavily on California -- and Hollywood, in particular. Our newest multimillion dollar stage and production center stand as both a beacon of hope, and a beacon of confidence, that says, “We believe in the vitality of our staff… the viability of our industry… and that our state and local governments will finally take all steps necessary to ensure that Hollywood remains synonymous with the Entertainment Industry.”
Right now, the turtles are winning -- It’s time for the rabbit to wake up and get moving before the race is lost forevermore.
Craig
