By MADISON HIRNEISEN
THE CENTER SQUARE
(The Center Square) – The California Film Commission announced 18 films are receiving a portion of $93.7 million in Film and Television Tax Credits in the latest allocation, including a handful of big-budget films.
The sequel to the billion-dollar blockbuster hit “The Joker” titled “Joker: Folie à Deux,” is among the four big-budget films receiving tax credits to film in California. The project is expected to receive $12.6 million in tax credits, according to the California Film Commission.
The first installment of the Joker starring Joaquin Phoenix as the titular DC Comics character became the first Rated-R movie in history to bring in more than $1 billion at the box office.
Three other big-budget films – Rebel Moon Part 2, The Thomas Crown Affair, and an untitled film by Netflix – also receive between $16 million and $20 million each in tax credits. The four big-budget films are expected to “generate $377 million in qualified spending and $748 million in overall spending in California,” the film commission wrote in a news release.
Fourteen other independent films will also receive millions in tax credits from the state, including an untitled film by director Sofia Coppola.
“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.”
In total, the California Film Commission estimates that all of the films set to receive tax credits will employ over 2,500 crew members, 596 cast members and over 28,700 background actors. The movies are expected to generate $915 million in production spending in California.
In recent years, California has offered $330 million in tax credits per year to keep the film business in California. Gov. Gavin Newsom recently announced support for a bill that would expand the tax credit through 2030.