News Summary
The California film commission has announced $334 million in tax credits for 52 film projects to enhance local production and employment. This funding is part of efforts to curb runaway productions and is expected to boost the economy by generating about $1.4 billion. Major titles, including Michael Mann’s ‘Heat 2’ and the new ‘Jumanji’, will benefit from these incentives, which also support independent films. The ongoing program aims to keep California competitive in film production.
Los Angeles, California – The California film commission has announced a new round of tax credits worth $334 million, allocated to support 52 different film projects. This new funding is part of California’s expanded entertainment tax credit program, designed to revitalize film production within the state and mitigate the trend of runaway productions moving to other regions.
These financial incentives are expected to generate approximately $1.4 billion in economic activity directly connected to the entertainment industry. This round of subsidies will create jobs for roughly 8,900 cast and crew members, as well as over 46,400 background performers, significantly contributing to the local economy.
Among the major titles receiving funding are Michael Mann’s Heat 2 and the latest installment in the Jumanji franchise. The production of Heat 2 is benefitting from a tax incentive totaling $37.2 million, while the Jumanji project has received $43.9 million in support. Other noteworthy projects include Netflix’s The Fifth Wheel, among others, leading to a total expected expenditure of around $340 million across an estimated 296 film shooting days.
The tax credit program has seen a substantial increase in funding as its cap was raised more than double from $330 million to $750 million, and a 35% base credit has been established. This modification indicates a growing demand for film production within California, shown by a 200% increase in applications compared to the previous year. The California Film Commission’s executive director noted that without these incentives, many of the projects would not have been able to be filmed in California.
Filming for most of the awarded projects will take place in Los Angeles, which is facing historic low levels of production recently. Nonetheless, the incentives are also encouraging some filmmakers to explore locations outside of Los Angeles, with 511 days of projected filming scheduled outside the region in hopes of bolstering local economies. The expanded program includes provisions for independent films, with 42 of the funded titles having budgets mostly under $10 million. Some independent films that received funding include Epiphany, The Incredible Heist of Hallelujah Jones, Sun Baked, A Tree is Blue, and Nightwatching.
In March, the film commission reported the selection of 51 films in the previous round of funding, suggesting a consistent growth in film production efforts across the state. Governor Gavin Newsom has emphasized the importance of the film and television industry to California’s economy and job creation.
The updated tax incentive program, referred to as Program 4.0, comprises new rules related to project eligibility, cash refunds, and enhanced diversity initiatives. The overarching goal of these incentives is to ensure filmmaking remains competitive within California against other states and regions, thereby preventing runaway productions that could detract from the local economy and job market.
As these financial incentives unfold within California’s film industry, it can be anticipated that the expanded tax credit program will continue to play a crucial role in the resurgence of film production, fostering job growth and contributing to the overall economy.
Deeper Dive: News & Info About This Topic
HERE Resources
Los Angeles Sees Decline in Film Production Amid Tax Incentives
Los Angeles Faces Production Decline Despite Tax Incentives
California Expands Film and TV Tax Credit Program
California Increases Film and Television Tax Credit Budget
California Approves 22 TV Projects to Boost Economy
California Increases Film and Television Tax Credits
Additional Resources
- Hollywood Reporter: Heat 2 Nabs Tax Credits to Shoot in California
- Los Angeles Times: 52 Films Awarded California Tax Credit
- Deadline: Heat 2 Tax Credits Details
- Bloomberg: California’s Bigger Tax Credits Reel in Jumanji
- Wikipedia: Film Incentives in the United States
Author: STAFF HERE LOS ANGELES WRITER
The LOS ANGELES STAFF WRITER represents the experienced team at HERELosAngeles.com, your go-to source for actionable local news and information in Los Angeles, Los Angeles County, and beyond, specializing in "news you can use" with coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise from years of dedicated reporting and strong community input, including local press releases and business updates, while delivering top reporting on high-value events like the Academy Awards, LA Auto Show, and Los Angeles Marathon, extending coverage to key organizations such as the Los Angeles Area Chamber of Commerce and the Los Angeles Tourism & Convention Board, plus leading businesses in entertainment and technology like Warner Bros. and SpaceX, and as part of the broader HERE network including HEREAnaheim.com , HERECostaMesa.com , HEREHuntingtonBeach.com , and HERESantaAna.com , providing comprehensive, credible insights into Southern California's dynamic landscape. HERE Anaheim HERE Beverly Hills HERE Coronado HERE Costa Mesa HERE Hollywood HERE Huntington Beach HERE Long Beach HERE Los Angeles HERE Mission Viejo HERE San Diego HERE Santa Ana
