Three studio films were selected to receive tax credits by the state's film office, down from 11 for the same period last year.
headlines the three studio titles that were conditionally granted incentives. The production is projected to generate more in-state spending than any other movie in the film office’s 14-year history, with $120.1 million in qualified spending. It was given $21.1 million in credits.. The third remake of the title stars Michael B. Jordan as a billionaire thief in a cat-and-mouse game with an insurance investigator who’s also his romantic interest.
The three studio movies account for $46.2 million of the $81.7 million tax credits allocated. For the same period last year, the Film & TV tax credit program announced 30 new movies — 11 studio films and 19 indies — to get tax breaks to film in California. Of $149.2 million in credits reserved for the projects, roughly $120 million was for studio films.
California designates $330 million annually in credits to shoot in the state. That figure in 2021 was bumped up by $90 million for two years to attract productions from other areas. The proposed change followed Illinois Gov. J. B. Pritzker in April signing into law a measure that similarly allowed some non-resident wages to qualify. California is currently the only state that doesn’t do so.
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