California Pumps $342 Million Into 52 Films, Including ‘Jumanji’ and ‘Heat 2,’ in Bid to Jumpstart Big-Budget Production

California has set aside $342 million in tax credits in a bid to jumpstart production of big-budget films, including a record $43.9 million for the next installment in the “Jumanji” franchise.

The state is also committing $37.2 million for “Heat 2” from Michael Mann, as well as $38.4 million for the next film from the Daniels, the Oscar-winning team behind “Everything Everywhere All at Once.” The Daniels’ film, from Universal, was already approved for $20.8 million in March, but thanks to the expansion of the state’s incentive program this summer, now finds itself the recipient of a nearly $18 million windfall.

The next “Jumanji” — the fourth overall, and the third since 2017 — is set to begin shooting in November. It is due for release in December 2026. In a statement, director Jake Kasdan said he is “thrilled” that it will be made in California.

“I have long looked forward to the day when the California Film Incentive…