The California Film Commission has allocated $335 million in film tax credits to 52 movie productions, Gov. Gavin Newsom announced on Tuesday.
This includes $38.4 million for The Daniels’ next film, while “Heat 2” will get $37.2 million and the next “Jumanji” sequel will get a record $43.9 million.
“The film and television industry is the cornerstone of California’s creative economy – revitalizing the job opportunities, business growth and economic prosperity for families. These investments reaffirm that California isn’t just where stories are told, it’s where the future of storytelling is built,” Newsom said in a Tuesday statement.
The California Film and Television Tax Credit Program update is expected to bring “nearly $1.4 billion into the state’s economy, employing an estimated 8,900 cast & crew and 46,400 background performers” over the course of 1,664 filming days.
The 52 awarded films include 10 major studio productions and 42 independent productions, 32 of which have budgets of under $10 million. The other studio films are Blumhouse’s “Sunday”; Netflix’s “One Attempt Remaining” and “The Fifth Wheel,” directed by Eva Longoria; and untitled projects from Warner Bros. Pictures, Apple Studios, Nickelodeon and Paramount Pictures.
The film tax credits come two months after California awarded $255.7 million in television tax credits across 22 TV productions. Gov. Newsom more than doubled the program from $330 million to $750 million earlier this year.
