The California Film Commission announced today 18 upcoming projects that will benefit from the state’s Film and TV Tax Credit Program, receiving a combined $93.7 million break for generating an estimated $915 million in spending.Todd Phillips’ “Joker” sequel “Folie à Deux,” a remake of “The Thomas Crown Affair” starring Michael B.
Jordan, and “Rebel Moon Part 2” are among the big-budget films selected for the program. An untitled Netflix production, which qualifies for more than $20.5 million in tax credits, is the priciest project at $107.7 million in qualified spending.
Together, the four projects will generate $377 million in qualified spending and $748 million in overall spending. (“Qualified” spending is defined as wages paid to below-the-line workers and payments to in-state vendors; all other spending is not incentivized under the program.)“We are thrilled to continue welcoming the kind of big-budget films that used to be so susceptible to runaway production,” California Film Commission Executive Director Colleen Bell said. “In addition to our incentive, we have the best talent, crews, infrastructure, locations, weather and so much more.
California is ready to help filmmakers make the most of all we have to offer.”“No other city has more resources than L.A. when it comes to our industry, and to have this kind of support for the work we do from the California Film Commission’s Film & Television Tax Credit Program is a nice welcome for all of us on ‘Joker: Folie à Deux,'” writer-director-producer Todd Phillips said. “Joker: Folie à Deux” is set to receive $12.6 million in credits for $98.7 million in qualified spending.
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