California has announced its latest round of tax credits for films being produced in the state in 2023, awarding tax breaks to a mixture of studio and independent films.
The rollout is led by four high-profile studio films: Warner Bros. Discovery’s “Joker: Folie à Deux,” MGM’s “The Thomas Crown Affair” remake starring Michael B. Jordan, Netflix’s “Rebel Moon Part 2,” and another untitled project from Netflix. The state is also awarding tax breaks to 14 independent films, including a currently untitled project from Sofia Coppola.
“No other city has more resources than L.A. when it comes to our industry,” said Todd Phillips, who is returning to direct the highly anticipated “Joker” sequel. “And to have this kind of support for the work we do from the California Film Commission’s Film & Television Tax Credit Program is a nice welcome for all of us on ‘Joker: Folie à Deux.’ Having spent the last several years filming in iconic locales here in the U.S. and around the globe, I’m looking forward to returning to work in the place I call home and to serving the state by bringing a project of this scope to California.”
The 18 projects receiving tax breaks are projected to generate $915 million in spending in the state of California, including $503 million in “qualified” spending that will go directly to wages of California workers and payments to California vendors. The state has allocated a combined $93.7 million in tax credits for the 18 films.
While the Los Angeles area has always been synonymous with film and television production, many of the films will also generate jobs throughout the entire state of California. Of the 718 filming days expected to be generated by the 18 projects, 218 are planned to take place outside the Los Angeles 30-Mile Studio Zone.
“We are thrilled to continue welcoming the kind of big-budget films that used to be so susceptible to runaway production,” said California Film Commission Executive Director Colleen Bell. “In addition to our incentive, we have the best talent, crews, infrastructure, locations, weather and so much more. California is ready to help filmmakers make the most of all we have to offer.”