20th Century Fox’s Ford vs. Ferrari directed by James Mangold, the Eddie Murphy-starring sequel to Coming to America and Antoine Fuqua’s reimagining of Scarface are among the big-budget feature films to score allocations in the latest California Film and Television tax credit drawings. Jordan Peele’s new film and HBO’s Deadwood movie also scored conditional funding slots in the latest round unveiled today.
The round totals nine projects, including seven studio-based films led by Ford Vs. Ferrari, which was awarded $16.956 million in credits — the highest amount of the group. The production is expected to spend more than $78 million in California on qualified expenditures alone, with a total of 67 shooting days planned in-state half of which our outside Los Angeles’ 30-mile zone.
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In all, the California Film Commission doled out a total of $55.5M this round, the third and final for the third fiscal year of the program.
The new list is heavy on big-budget productions, with the expanded credit program’s focus on keeping larger films from fleeing to other states. Along with Ford Vs. Ferrari, the other eight-figure allocation is to Paramount’s Coming 2 America, the sequel to the 1988 John Landis comedy that is bringing back Murphy; it has received $12.956M. Among other big-budget notables: Universal’s Scarface redo ($7.785M) and Peele’s follow-up to Get Out ($5.214M), the latter of which will shoot extensively in Santa Cruz.
Also on the list: HBO Films’ long-gestating feature film based on Deadwood, which received $4.195M. HBO president Casey Bloys confirmed to Deadline in January that the premium cabler is looking at a fall 2018 production start.
Here’s the full list of new projects, which is subject to change if applicants withdraw and their allocations are reassigned:
Recent funding rounds for the state’s expanded Film & TV Tax Credit Program have included big-budget films like Disney’s A Wrinkle in Time, Paramount’s Transformers stand-alone Bumblebee and Quentin Tarantino’s Once Upon a Time in Hollywood. It was these types of budget-sized pics that were getting squeezed out of the previous incarnation of the program, which was closed to films with total budgets exceeding $75M.
“California’s expanded tax credit program was successful from day one in attracting TV projects and mid-range features, and it’s succeeding over the long term with big-budget film projects like those announced today,” California Film Commission executive director Amy Lemisch said today in announcing the new round. “While our tax credit is more modest than what’s offered by some competitors, filmmakers understand that California can still provide the best value thanks to our superior talent, infrastructure, weather and locations.”
A total of 39 film projects applied during the March 7-13 application period. The CFC says the nine projects are on track to employ nearly 500 cast, 1,600 crew, and 30,000 extras and will generate an estimated $288.6M in overall qualified spending state-wide.
The next application period for feature film tax credits is June 18-22.
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