'Captain Marvel' Among Films Receiving California Tax Incentives
The state has allocated $68 million in tax incentives in the latest round of the program.
Marvel Studios’ Captain Marvel, in which Brie Larson is set to star, is among the latest group of feature films selected to receive tax credits under California’s Film and Television Tax Credit Program 2.0.
Captain Marvel is one of three big-budget films — the other two being Midway, a movie about the World War II battle that Roland Emmerich is directing, and a Paramount project listed as Island Plaza — that will benefit under the latest round of tax credits, announced Monday, which will allocate nearly $68 million to eight independent and studio productions.
A total of 92 projects had applied for tax credits under the first film allocation period (held June 27-July 8) for the third fiscal year of California’s expanded film incentive program.
The program made a particular point of touting the big-budget films, noting that the previous round of allocations included three other big-budget pics, including Disney's A Wrinkle in Time. Projects with budgets of more than $75 million were ineligible under the state's first tax credit program, but now that it has been expanded to what's called Program 2.0, incentives are open to films of any budget, though credits apply to the first $100 million in qualified in-state expenditures.
Captain Marvel will be the first Marvel film shot primarily in California, as many of the studio's other films have been filmed in Georgia, as well as Australia and England.
As part of the announcement, Marvel Studios co-president Louis D'Esposito commented: "Our headquarters and postproduction facilities are in California, so it's very exciting to be able to film Captain Marvel here in our home state thanks to this California tax credit. As a result, not only will we be able to streamline our production process for this and other films we're working on concurrently, but we'll have more time to spend with our families."
Midway plans to film in Alameda County, taking advantage of Bay Area locations.
"With the three we've added today, a total of six big-budget films have been lured to California thanks to Program 2.0," noted California Film Commission executive director Amy Lemisch. "Such films are a primary target for the tax credit program because they can bring significant jobs and spending to regions across the state."
Other projects included in the latest round of tax credits include Happytime Murders, directed by Brian Henson and starring Melissa McCarthy, and Cheney, starring Christian Bale, Amy Adams and Steve Carell.
The state predicts that the eight film projects announced Monday will employ more than 2,600 in cast and crew and generate nearly $385 million in qualified spending (defined as wages to below-the-line workers and payments for equipment and vendors). Four of the eight projects plan to shoot partially outside of Los Angeles' 30-Mile Zone, adding to their impact throughout the state.