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By David McAfee
Marvel is on track to receive almost $21 million in tax credits for production of “Captain Marvel”—one of three big-budget films to be added to the California Film Commission’s tax credit program, the commission announced July 24.
Warbird Productions LLC, a subsidiary of Marvel, will receive an estimated $20.8 million in tax credits as part of the most recent allocation for the commission’s expanded tax credit program.
“Our headquarters and postproduction facilities are in California, so it’s very exciting to be able to film ‘Captain Marvel’ here in our home state thanks to this California tax credit,” Marvel Studios Co-President Louis D’Esposito said July 24. “As a result, not only will we be able to streamline our production process for this and other films we’re working on concurrently, but we’ll have more time to spend with our families.”
Viacom Inc.’s Paramount Pictures Corp. was also approved for $21.5 million in credits for “Island Plaza,” and the production “Midway” earned $13.9 million in credits for the Mark Gordon Co.’s Midway Island Productions Inc.
California Film Commission Executive Director Amy Lemisch said the program has lured a total of six big-budget films, which have a production budget of more than $75 million, to the state. That includes the three the commission announced July 24—"Captain Marvel,” “Island Plaza,” and “Midway.”
“Such films are a primary target for the tax credit program because they can bring significant jobs and spending to regions across the state,” Lemisch wrote in a statement.
The commission says 92 independent and studio projects applied for tax credits in the most recent period, and eight were selected. Other films include “Peppermint,” “Happytime Murders,” “Cheney,” “Bird Box,” and “A Christmas Story: The Musical Live!”
The eight films, which will receive almost $68 million, are estimated to generate almost $385 million in qualified spending. The projects will also employ more than 2,600 cast and crew, according to application information submitted by the production companies.
To contact the reporter on this story: David McAfee in Los Angeles at dMcAfee@bna.com
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