The California Film Commission has handed out $86.9 million in lucrative tax credits today, the amount to be shared amongst eleven independent and eleven “non-independent” film projects to be shot in California in the coming months.
Over 50% of the films will also be shot outside of Los Angeles. The return on investment is expected to haul in around $642 million in overall spending in the state with over $430 million expected to go into the pockets of below-the-line workers and in-state vendors.
Reaping the biggest windfalls were the Jason Bateman-directed and Simon Kinberg-penned heist film “Here Comes the Flood” for Netflix with just under $14 million, an untitled Universal Studios production at $12.2 million, the Reese Witherspoon produced “Ashley’s War” at $10.7 million, and the Joel and Ethan Coen-penned and Luca Guadagnino-directed remake of “Scarface” at $9.65 million.
Others that made the list include Steven Soderbergh’s HBO Max-set “KIMI” with Zoe Kravitz, the Eva Longoria-directed “Eva Longoria,” and the Kevin Hart-led Netflix comedy “Me Time”. A similar tax credits handout for TV projects is expected in the next few weeks.
Source: THR
