Those employed by the film and TV industry in Hawaii breathed a sigh of relief this week, as Gov. David Ige backed away from his threat to veto a bill to increase tax credits for the film and digital media industry. Ige allowed Senate Bill 33 to become law without his signature. The measure will increase the annual cap on tax credits from $35 million to $50 million.

It’s a sensible move. Incentives for film and TV productions are standard practice these days, as states compete to attract a clean, low-impact industry that provides good-paying jobs. It also helps diversify the state’s economy, which is heavily dependent on tourism and the military.

“The state’s incentive program helps generate 4,200 direct motion picture and television jobs while supporting more than 390 local production companies and industry businesses,” said Irish Barber, business representative of I.A.T.S.E., Local 665, the union representing local technicians and artists.

Hawaii has hosted production of the TV series “Magnum P.I.,” now filming its second season, and the long-running “Hawaii Five-0,” as well as upcoming movies like “The Wrong Missy,” “Hobbs & Shaw,” “Jungle Cruise,” Jumanji” and “Godzilla vs. Kong.”

Ige himself supports the tax credit, but objected to a separate provision requiring a memorandum of understanding to transfer land from the University of Hawaii to the Hawaii Technology Development Corp. But since that provision would not go into effect until Dec. 31, 2020, Ige said he will work with the Legislature next year to change the requirement to “restore the university’s autonomy.” That seems like a reasonable compromise.