California Film Commission announces selected projects

The California Film Commission has announced that 31 projects will be awarded various tax credits as part of the annual $100 million Tax Credit Program. It was also a record year for project submissions, numbering 380 compared to 322 in the previous year.

14 feature films and 12 TV Series were selected which included 12 independent features and two studio movies.

The commission estimated that more than $771 million would be spent in California, employing 87,390 people in various roles (cast and crew). The total wage spend for the winning productions would amount to $290 million.

While the $100 million tax credit program is helping film and TV productions with a minimum budget of $1 million, only 8% of films this year were able to benefit from the program. This showed a big increase in activity for local film productions, but a shortfall in state support for the demand.

The Commission argues that $4.67 billion in direct spending in the state has been generated since 2009. Despite this success, many productions turned down will have to look at other states for tax incentives. The California Film & Tax Credit program awards up to 25% in credits depending on the project.

With ever increasing demand in the film industry for tax incentives, is the California Tax Credit program enough to keep productions in the state, or can more be done?