Movies

A record 51 films chosen for California film and TV tax credit program

BBG News

In this latest round of California’s film and TV tax credit program, an unprecedented 51 movies are set to benefit from government assistance, as announced by the California Film Commission.

46 independent films were the most numerous projects ever granted in one submission period, according to the commission’s announcement on Wednesday.

Combined, they are projected to hire over 6,400 individuals and create approximately $580 million in economic value. Furthermore, they are anticipated to distribute over $346 million in salaries, according to the commission’s statement.

As a film enthusiast, I’m thrilled to share that some of the honored productions feature exciting projects on the horizon. For instance, there’s an upcoming drag queen movie yet to be titled, produced by the legendary RuPaul Charles himself! Additionally, another untitled project is in the works from Oscar-winning filmmakers Daniel Kwan and Daniel Scheinert, also known as Daniels, along with Jonathan Wang, who brought us the critically acclaimed “Everything Everywhere All at Once” in 2022. This project is projected to receive a substantial $21 million in tax credits and create close to $62 million in wages.

Governor Gavin Newsom stated, “It’s widely recognized that California is the global hub for entertainment, yet this hasn’t deterred others from emulating what’s been established in Hollywood over years of ingenuity and effort. These awards today are crucial for maintaining our position as a production destination within California.

Hollywood Inc.

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Even before the L.A. fires, Hollywood jobs were hard to find. Will the work ever come back?

In the ever-evolving landscape of Tinseltown, I’ve witnessed a torrent of technological, fiscal, and global transformations that have left their indelible mark on our beloved film industry. As a critic standing on the precipice of this change, it becomes increasingly clear: The jobs we once held dear may never return to their former glory.

In recent years, I’ve noticed a significant trend in the film industry – as more states and nations enhance their film and television tax credit schemes, the number of productions shifting away from California has grown exponentially. This mass exodus, unfortunately, has resulted in a squeeze on opportunities for local workers who still call the Golden State home.

Toward the end of last year, Governor Newsom suggested expanding the state’s film and television tax credit. This increase aimed to raise the yearly tax credit allotment from $330 million to a staggering $750 million, with the ultimate goal of maintaining production within our borders.

In the previous month, lawmakers at the state level have put forth two proposals aimed at revising the current tax incentive system. However, the specifics are yet to be finalized as various parties involved are currently in discussions.

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2025-03-19 18:31

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