Michelle Pfeiffer is currently filming “Margo’s Got Money Problems,” the Apple TV+ series adaptation of the bestselling novel co-starring Nicole Kidman and Elle Fanning, in Los Angeles. In the last 20 years or so, Pfeiffer says of the 23 projects she’s worked on, only three have shot in the city.

“That’s crazy,” the three-time Oscar nominee told me Friday, following her hand and footprint ceremony at the Tcl Chinese Theater in Hollywood. Like so many people in television and movies, Pfeiffer worries Los Angeles is on the verge of no longer being an industry town.

“I don’t know lot about the politics of it all, but I know you need to bring back tax incentives,” Pfeiffer said. “People look at the bottom line for productions — where are we going to get the most for our dollars because you want all that money to go on screen, and if...