In all, the state has reserved $86.9 million in credits for 22 projects. They include Universal’s “,” a remake set among narco traffickers, which will be directed by Luca Guadagnino with a script from Joel and Ethan Coen. The film will get a $9.8 million state subsidy.
The largest project on the list belongs to Netflix. “Here Comes the Flood,” directed by Bateman, will get a $13.8 million subsidy. Netflix also landed a $7.6 million subsidy for “Me Time,” a comedy starring Kevin Hart. California provides $330 million in tax credits annually to film and TV projects. Applicants are invited to participate in several rounds throughout the year. The program is currently set to sunset in June 2025.
Under the prior iteration of the program, from July 2015 to June 2020, about 55% of the workers on credit-approved projects were white, according to data released in the commission’s most recent progress report in December. Another 13% were Latino, 6% were Black, 3% were Asian American, and 22% were classified as “other.”
Source: Entertainment Trends (entertainmenttrends.net)