‘A Star Is Born’ and ‘It’ remakes are among 13 films approved for California tax credits
Major movie remakes “A Star Is Born” and “It” have been approved for California tax credits as part of the state’s expanded film and TV program to encourage film production.
“A Star Is Born,” directed by Bradley Cooper, was approved for $8.9 million in tax credits through the program, and New Line Cinema’s Stephen King adaptation “It” is poised to get $7.2 million, the California Film Commission said Monday.
Those pictures are among 13 movies that are newly approved for California’s incentive program, 10 of which are big studio projects.
They were among the 174 applications competing for $53.9 million in tax credits during the fourth application period overall for the expanded tax credit program.
In 2014, the California Legislature approved a bill to triple annual funding for the state’s film and television tax credit to $330 million to better compete with other states and countries offering their own incentives to entice studios and production companies.
Other films set to benefit from the program now include the horror sequel “Annabelle 2,” the Walt Disney Studios family production “Overnight on 42nd Street” and Paramount’s “Dangerous Amusement Park.”
Two of the planned films, titled “Get It While You Can” and “Save the Cat,” are expected to shoot in San Francisco and Central California, respectively, the film commission said.
Executive Director Amy Lemisch said in a statement that she is encouraged by the prospect of more filmmaking outside of the Los Angeles area dominated by the major studios.
“One of our goals for the newly expanded tax credit program is to start bringing more production jobs and spending to regions statewide, and we are beginning to see that happen with this latest allocation,” Lemisch said.
The commission said the latest round of approved films could generate $400 million in spending in California, including $174 million in wages for crew members.
Follow Ryan Faughnder on Twitter for more entertainment business coverage: @rfaughnder
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