California Tax Credit Bolsters Film INDUSTRY ECONOMY

Mar 13, 2024

California’s Film & Television Tax Credit Program adds $166 million to state’s economy

 

Sony productions in North Lake Tahoe.

The California Film Commission recently announced a significant boost to California’s entertainment industry economy with the addition of five big-budget projects and ten independent films into Film and Television Tax Credit Program.

These fifteen productions, spanning a diverse range of budgets and narratives, are projected to bring close to $408 million into California’s economy through qualified in-state expenditures.

With an estimated 2,252 crew, 598 cast, and 16,800 background performers poised to work across a combined 579 filming days, these projects will provide a substantial boost to local employment and economic activity.

“This is great news for the film industry in California,” Placer County’s Film Liaison Juli Johnston said. “We’re excited for the year ahead and looking forward to helping filmmakers and production companies complete their work right here in Placer.” 

The headline win for California was the announcement that Lucasfilm’s “The Mandalorian & Grogu,” directed by Jon Favreau, will have the largest total qualified expenditures in the history of the California Film and Television Tax Credit Program. This Star Wars feature, a first for the franchise to be shot entirely in California, is set to inject an estimated $166 million into the state’s economy through below-the-line wages and qualified expenditures.

Furthermore, the ten independent films revealed today are poised to generate a total of $114 million in qualified spending, with $70 million attributed to qualified wages. Among these, the seven indies with budgets under $10 million, listed below, are projected to contribute a combined $22 million in qualified spending. Meanwhile, independent films with budgets exceeding $10 million, including New Regency’s “Untitled NRP Project,” are expected to surpass $92 million in qualified spending, reflecting the robust economic impact of these productions.

For more information about the Placer County Film Office, visit our ‘About Us’ webpage. Placer is proud to offer free film permits for media production on county-owned property (monitoring fees may apply) and we work quickly to return film permits within a day or two depending on the project.  Contact us for help today.

 

READ MORE:

Placer hosts Film Liaisons from across California

FILM OFFICE plays host to FLICS, provides tour Our film office recently had the pleasure of hosting the Film Liaisons in California Statewide (FLICS) board meeting on July 15 and 16 right here in Placer County. FLICS is a statewide professional association of more...

Placer County FAM TOUR

Tour Placer County with our film office as we take you through stunning locations from the rich farmlands and industrial sites of the valley, to the rivers and forests of the foothills, to the sparkling blue lake and ski resorts of the mountains. Our 'fam' tour, or...