California Film Tax Credits For ‘Shrek’, Disney & Ben Affleck Movies

Gavin Newsom is taking a victory lap today on the first anniversary of California’s film and TV tax credits program being jacked up to $750 million, and the potential presidential contender has Disney, a Shrek prequel, and Ben Affleck along for the ride.

Along with an untitled Pixar project, the Argo Oscar winner’s upcoming Gingerbread Man, the Hailee Steinfeld and Rashida Jones starring animated Hexed from the House of Mouse and DreamWorks’ Eddie Murphy-led Donkey were among 41 films that received $187 million in incentives today.

The Pixar flick was awarded the most in credits with $26.7 million in what has become a very helpful program for animation the past 365 days. Not that ‘toons don’t pay off. The four animated features are estimated to inject $711 million into the Golden State’s economy. That breaks down to about “$145 million in qualified wages, employing over 1,900 cast and crew members” for the home of Hollywood, according to the California Film Commission.

“We received the approval letter informing us that Gingerbread Men was accepted into the California Film and Television Tax Credit Program,” Affleck said of the indie from his and pal Matt Damon’s Artists Equity.“ Gingerbread Man got $7 million from the state.

“Under the program, we have been able to make the films Argo, Unstoppable, and Accountant 2,” Affleck added. “Our upcoming film, Gingerbread Men, will be filmed in Los Angeles, California – close to our company office and the best and most experienced cast and crew, vendors, and service providers. Let’s continue to keep the California film industry alive with the help of the California Film and Television Tax Credit Program!”

Take a look at the full list of conditionally approved awards here:

Overall, the bean counters in Sacramento anticipate the 41 projects will generate $1.1 billon “in direct production spending in California” and “$145 million in qualified wages, employing over 1,900 cast and crew.”

That figure factors nicely into some very big numbers that Governor Newsom heralded Tuesday.

Specifically, $6.6 billion has been created for the state’s economy over the past year out of 170 credited projects. While that sum sounds (and is) impressive, the figure that may get the town truly jazzed is the “nearly 35,000 cast and crew jobs across California” the Governor’s team say has come out of the last year since the program allotment leap up.

To that, including the awarded big screeners revealed today, Gov. Newsom sure sounded like he was prepping a stump speech for the Heartland on the California miracle, so to speak.

“California has long set the standard for entertainment production, creating good-paying jobs and showcasing the creativity and innovation that define the Golden State,” the Governor asserted. “The first year of the expanded tax credit program is already delivering results — generating billions in economic activity, creating opportunities for businesses and the workforce, and bringing more productions home to California.”

Maybe the biggest praise came from Burbank.

“Governor Newsom, and the legislative leaders who have worked to strengthen opportunities for production here as we continue to invest in California’s world-class creative workforce,” said Alan Bergman, Disney Entertainment Studios chairman Tuesday.

Reading the tea leaves-ish, does that mean we’ll see some Marvel movies coming over from the tax incentive rich UK soon?

Just askin’