California Awards Nearly $60M in Incentives to Keep Movie Business Here

The state Film Commission awarded tax credits to 13 movie projects, including the horror film “Annabelle 2,” the Disney comedy “Overnight on 42nd Street” and the remake of “It,” based on the Stephen King novel, Senate President Pro Tem Kevin de Leon, D-Los Angeles, announced Wednesday.

The tax credits awarded by the commission totaled $53.9 million. The credits are the fourth round of allocations under the expanded state film and television incentives program, according to de Leon.

“The expanded and smarter tax-credit program is bringing back film and television productions from other states and countries and restoring California as the undisputed creative capitol of the world,” de Leon said. “These productions generate hundreds of millions of dollars into local economies and keep good movie and TV jobs right here in the Golden State.”

The films include 10 studio films and three independent productions, which are projected to generate more than $400 million in spending in California, out of which $174 million would come from wages for about 540 cast members and more than 2,000 behind-the-scenes workers, according to de Leon.

The studio films are:

• “A Star is Born” by Warner Bros.;
• “Bright” by Warner Bros.;
• “Annabelle 2” by Mutiny Pictures;
• “Dead of Night” from Mutiny Pictures;
• “La Llorona” from Mutiny Pictures
• “Dangerous Amusement Park” from Paramount Pictures;
• “Get it While You Can,” the Janis Joplin biopic from Get it While You Can Productions;
• “It” from New Line;
• “Latin Love” from Lionsgate; and
• “Overnight on 42nd Street” from Walt Disney Studios.

The independent projects are titled “Save the Cat,” “Sububicon” and “Beautiful Boy.”

Los Angeles city leaders, including Mayor Eric Garcetti, lobbied for passage of the expanded tax credit program, which raised the annual incentives from $100 million to $330 million in tax credits each year.

--City News Service, photo via Shutterstock