Texas Now Set to Make Major Movie Bids

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AUSTIN, Texas -- Governor Rick Perry Thursday signed into law a $22 million program offering financial incentives to lure movie production to Texas.

Standing with Perry for the signing was Houston-born actor Dennis Quaid.

Texas has been the site of a number of films and television shows. But it's been losing business the past few years to Louisiana, New Mexico and other states that offer benefits to filmmakers. Some productions have gone to other countries.

Perry said he hopes Texas will one day be the culture capital of the world. For now, he says he'll take not losing to Louisiana.

Quaid, who's planning to move to Austin, says the program would boost local economies as production crews spend money on construction and in hotels and restaurants. He says he hopes Austin becomes "the new Hollywood."