California significantly increased tax credits to incentivize the location of film and TV production in the state of California in late 2014. I've written about it and its impact, here, back in 2016. How is it doing since then? The California Film Commission, the government entity responsible for administering the tax credit program, issued a Report examining the impact of the program over the last three years from 2015 to 2018. A press release concerning the Report states:
Moreover, the supposed impact of Captain Marvel on the local California economy has been estimated to be around $100 million. The latest installment of Sherlock Holmes will also be shot in California, estimated to provide another $100 million boost to the local California economy. Notably, Governor Newsom has pointed to restrictive social policies concerning abortion (mostly in Southern U.S. states, such as Georgia) as a reason for production companies to move their operations back to California.