Lineup consists of 11 indie and 11 non-indie films, including projects from Bateman, Coen Brothers, Longoria, Soderbergh, Witherspoon
Twenty-two feature films have been selected for the latest round of tax credits under California’s Film & TV Tax Credit Program. They include 11 independent and 11 non-independent film projects representing a wide range of budgets, genres and locations. Consistent with the program’s goal of bringing production jobs and spending to regions across California, more than half the projects plan significant production outside the Los Angeles 30-Mile Studio Zone (TMZ).
The list includes projects from some of the industry’s most prominent filmmakers, including Jason Bateman (producer/director, Here Comes the Flood), Joel and Ethan Coen (writers, Scarface), Eva Longoria (director, Flamin' Hot), Steven Soderbergh (director, Kimi) and Reese Witherspoon (producer, Ashley’s War).
“We’re excited to welcome so many projects–from big-budget studio films to low-budget indies, and everything in between,” said Colleen Bell, executive director of the California Film Commission. “The tax credit projects announced today are on track to generate thousands of high-wage jobs and an estimated $642 million in overall in-state spending, with more than $430 million going to below-the-line workers and in-state vendors.
Based on data provided with each tax credit application, the 22 projects will generate more than $430 million in “qualified” spending, which is defined as below-the-line wages to California workers and payments to in-state vendors. Overall in-state spending by the projects will be significantly greater with the inclusion of above-the-line wages and other in-state expenditures that do not qualify for incentives under California’s very targeted tax credit program. Nine of the 11 independent projects were accepted into the tax credit program’s recently added $10 million-and-under qualified spending category, which reserves credits specifically for lower-budget independent films. The largest among these (with $9.95 million in qualified spending) is the Sammy Davis Jr. romance drama Scandalous! starring Jeremy Pope.
Taken together, the 22 projects will employ an estimated 2,546 crew, 695 cast and 26,13 background actors/stand-ins (the latter measured in “man-days”) over a combined 718 filming days in California. They will also generate significant postproduction jobs and revenue for California VFX artists, sound editors, sound mixers, musicians and other workers/vendors.
Production spending and employment will be spread across multiple counties, as 16 of the 22 projects plan a total of 304 filming days outside the TMZ, accounting for nearly 42 percent of filming days. With the projects announced today, California’s tax credit program has incentivized more than 60 out-of-zone film and TV projects.
A total of 61 applications were received during the January 25–February 1 feature film tax credit application period. The California Film Commission has reserved more than $89 million in tax credit allocation for the 22 conditionally approved projects. The list of approved projects is subject to change, as applicants may withdraw from the tax credit program and their reservation of credits is reassigned to one or more projects currently on the waiting list.
The next application period for feature films will be held in July (specific dates TBD), while the next application period for recurring and relocating TV series will be held March 8–15.
The 11 non-indie films selected for the latest round of tax credits are:
Ashley’s War (Universal City Studios) with an estimated tax credit of $10,709,000; Flamin’ Hot (TCS US Productions 3) with an estimated tax credit of $4,426,000; Here Comes the Flood (Netflix Productions) with an estimated tax credit of $13,777,000; Hollywood Stargirl (Newsub118 Productions) with an estimated tax credit of $4,173,000; Kimi (Rose City Pictures) with an estimated tax credit of $3,050,000; Leave Me Alone (New Line Productions) with an estimated tax credit of $3,752,000; Me Time (Netflix Productions) with an estimated tax credit of $7,643,000; Passenger 58 (Warner Specialty Productions) with an estimated tax credit of $581,000; Purple Hearts (Guys With Books Entertainment Co.) with an estimated tax credit of $2,561,000; Scarface (Universal City Studios) with an estimated tax credit of $9,852,000; and an untitled live-action project (Universal City Studios) with an estimated tax credit of $12,247,000.
And the 11 independent films are:
Alaska (Alaska the Film) with an estimated tax credit of $252,000; All Fall Down (The Squid Farm) with an estimated tax credit of $796,000; Gold Line (Gold Line LLC) with an estimated tax credit of $828,000; Huntsman (The Squid Farm) with an estimated tax credit of $931,000; Infamy (The Squid Farm) with an estimated tax credit of $463,000; Men at Work (MRC II Holdings) with an estimated tax credit of $2.5 million; Merry Effing Christmas (MRC II Holdings) with an estimated tax credit of $2.5 million; Scandalous! (Sneak Preview Productions) with an estimated tax credit of $2,488,000; Standby (The Squid Farm) with an estimated tax credit of $314,000; The Prank (Sneak Preview Productions) with an estimated tax credit of $629,000; and an untitled JJR project (Ghost Tree Films) with an estimated tax credit of $2,476,000.
Of the indie film projects, nine are budgeted at $10 million or less each (Alaska, All Fall Down, Gold Line, Hunstman, Infamy, Scandalous!, Standby, The Prank and the untitled JJR project. The remaining two indie films selected for the tax credit (Men at Work, Merry Effing Christmas) each carry a budget of more than $10 million.
SCHROM x Yacht Club and Be Electric Studios Launch Electric XR for Virtual Production
SCHROM x Yacht Club, a full-service live-action, tabletop, and postproduction company, has teamed with Be Electric Studios, a soundstage, equipment rental, and virtual production company, to launch Electric XR, a virtual production collective.
Industry veteran Thomas Rossano will lead the new venture, which provides advanced virtual production solutions across multiple facilities. He brings over 25 years of experience in live-action, tabletop, postproduction and talent curation to enhance Electric XR’s offerings as a resource for brands and agencies, as well as other production companies in need of virtual production solutions. Additionally Rossano continues to serve as EP at XR New York (XR-NY), a role he’s held since December 2022. SCHROM x Yacht Club originally established XR-NY to help provide XR services for third-party rentals. While XR-NY will continue to function independently for SCHROM X Yacht Club, it now operates under the Electric XR umbrella.
Rossano’s expertise spans producing live-action commercials, branded content, interactive and experiential content. In addition to leading Electric XR, he holds responsibilities at SCHROM x Yacht Club which include driving business development, collaborating with sales reps and expanding the company’s creative talent network. Rossano’s career includes serving as an exec producer at Hungry Man for about 11 years, right from that company’s inception. He then went on to become a partner at Station Film where he also had a lengthy tenure. Later he was a partner at PRISM. Then after the pandemic hit, he became a freelance EP for nearly two years, looking into opportunities in virtual production, which led him to XR NY and now Electric XR. Over the years, he has produced high-profile... Read More