Film tax credit to inject $1.4B into California’s economy

LOS ANGELES — Fifty-two film projects have been selected to receive a round of tax credits under California’s Film and Television Tax Credit Program to bring in nearly $1.4 billion into the state’s economy, according to Gov. Gavin Newsom’s office.

The projects benefiting from the tax credit awards include:

• Untitled “Jumanji” (Sony Pictures) — latest installment in the hit franchise
• “Heat 2” (Forward Pass, Inc.) — Michael Mann’s highly anticipated prequel and sequel to the iconic crime saga
• “Sunday” (Blumhouse Films) — adaptation of the acclaimed novel
• Untitled Daniels Project (NBC Universal) — from the Academy Award-winning producers of “Everything Everywhere All at Once”
• “The Fifth Wheel” (Netflix) — directed by Eva Longoria

“I’m thrilled that the new ‘Jumanji’ movie is going to be made in California. I have long looked forward to the day when the California Film Incentive would help us bring movies like this one back home — and now that it does, I am so grateful that ours will be among the first to take advantage of the new program,” said Director Jake Kasdan in a statement.

The new round of awards also supports 42 independent projects, with 32 project budgets under $10 million and 10 over $10 million.

Highlights include:

• “Epiphany” — starring Bill Murray and Kristen Wiig, directed by Max Barbakow, written by Mitch Glaser, produced by Lee Stollman, Ellen Goldsmith-Vein, and Jillian Apfelbaum
• “A Tree is Blue” — produced by Dakota Johnson
• “Nightwatching” — produced by and starring Mila Kunis
• Untitled MMX Drama — produced by Fred Berger
• “The Incredible Heist of Hallelujah Jones” — produced by Taika Waititi and starring Janelle Monae
• “Sun Baked” — starring Ruby Cruz, Kiernan Shipka and Lukas Gage

In keeping film and television production in the state, about 8,900 cast and crew and 46,400 background performers are expected to be employed.

“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,” said Newsom in a statement.

The California Film Commission, or CFC, is a state agency tasked with improving California’s status as the leading location for motion picture, television and commercial production, according to its website.

Since its inception in 2009, California’s Film & Television Tax Credit Program has generated over $27 billion in economic activity and supported over 211,000 cast and crew jobs across the state.