A recent installment in Sony’s Jumanji franchise and Michael Mann’s Heat 2 are among 52 feature projects included in the latest round of awards f
A recent installment in Sony’s Jumanji franchise and Michael Mann’s Heat 2 are among 52 feature projects included in the latest round of awards from California’s film and TV tax credit programme.
The awards allocation is the first for feature films since California’s 4.0 credit programme came into effect with massively expanded funding of $750m a year. According to the California Film Commission (CFC), applications for the awards round were nearly double those for the final feature round under the state’s 3.0 programme.
Between them, the 52 projects are expected to make $1bn of qualified expenditures in California and inject more than $1.4bn into the state’s economy. An estimated 8,900 cast and crew members will be employed.
Among the 10 studio or non-independent projects approved for credits, the Jumanji sequel is expected to spend $161.6m and get a credit worth $43.9m, according to a CFC document. Universal’s untitled project from Everything Everywhere All At Once writer-director-producers Daniel Kwan and Daniel Scheinert – known as the Daniels – is set to spend $107.3m, for a $38.4m credit. Heat 2, being produced by Amazon MGM Studios, is projected to spend $104.2m and get a credit of $37.2m.
The 42 independent features in the round include 32 with budgets under $10m and 10 with budgets of $10m or more. The former group includes The Incredible Heist Of Hallelujah Jones, with Taika Waititi producing, with a $5m projected spend and $1.8m credit. Among projects in the latter group is Epiphany, with Bill Murray and Kristen Wiig, set to spend $12m and receive a $4.2m credit.
California Governor Gavin Newsom commented: “The film and television industry is the cornerstone of California’s creative economy – revitalising 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.”
CFC director Colleen Bell added: “This round of awards demonstrates the outstanding scope of our program. We are welcoming projects from major franchises to independent films led by visionary artists. There’s real momentum building. With 52 new projects, we’re seeing storytelling thrive once again, creating thousands of jobs and supporting local businesses in communities across the state. California’s film industry is not just rebounding, it’s redefining what’s possible.”
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