‘Bad Monkey’ Nabs $20M In California Tax Credits to Relocate from Florida

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As a die-hard fan of the film industry, I can’t help but feel a sense of nostalgia as I watch California‘s Film Commission fight tooth and nail to keep its golden crown in the ever-competitive world of film production. With the rise of runaway productions and Hollywood cost-cutting, it’s like watching my favorite team struggle against an unrelenting tide.

As the competition between film production locations intensifies with a back-and-forth approach, the California Film Commission successfully attracted the television series “Bad Monkey” away from its original location in Florida.

The title, receiving approximately $20.6 million, was one of ten film projects announced on Wednesday by the state’s film office to receive tax credits for filming in California. Other productions include an unnamed Disney miniseries (receiving $14.7 million), Whalefall (receiving $10.4 million), and NCIS: Origins (receiving $5.7 million).

Due to escalating film and TV production and budget-conscious practices in Hollywood potentially weakening California’s grip on its entertainment industry, Governor Gavin Newsom proposed significantly boosting the limit on production tax credits from $330 million to $750 million annually in October. If approved, this subsidy would rank among the most generous provided by any state, second only to Georgia, which does not impose a cap on yearly production funding.

More adjustments to the plan are still under discussion. These modifications might alter the highest tax relief amount for a single production, as well as define which costs will be eligible for incentives.

The purpose of this initiative is to limit productions that are choosing to film outside of California, where they receive more tax incentives. In Los Angeles, production levels are at historic lows; the three-month period from July to September had the least number of shooting days this year. This figure falls short of what was seen during the industry’s pause due to actors and writers’ strikes in the region.

Colleen Bell, head of the California Film Commission, mentioned that they are putting in a lot of effort to ensure filming continues within California. She explained that these tax credits are crucial for retaining jobs in our state and stimulating economic growth. However, the benefits extend beyond just the entertainment industry; they support families, local businesses, and communities across California as a whole.

Besides “Bad Monkey,” 20th Television’s “Imperfect Women” is also set to receive $12.5 million in tax credits for filming within the state. This psychological thriller, based on a book with the same title, chronicles a crime that disrupts a friendship lasting over three decades among three women.

Kerry Washington expressed great pleasure about shooting ‘Imperfect Women’ in Los Angeles, made feasible by California Film Commission’s Tax Credit. In a statement, she mentioned how this beneficial program enables us to maintain production locally while simultaneously fostering the skillful artists and craftspeople in LA who are instrumental in storytelling.

Approximately $509 million is projected to be invested by the chosen titles eligible for tax credits in California, with a significant portion, around $276 million, going towards wages below the line. These investments will create employment opportunities for 1,666 actors, 1,917 crew members, and an impressive 28,404 background performers across a total of 835 days of filming.

To attract more film productions, the film commission has created three opportunities for applicants to join the tax incentive program.

Other regions and nations are progressively enhancing their tax break initiatives. In June, Illinois Governor J.B. Pritzker approved a bill that allows game shows, talk shows, contests, and other reality TV programs, among others, to claim tax credits when filming within the state. This move was preceded by Japan announcing a scheme where they reimburse up to half of eligible expenses incurred within their country.

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2024-12-18 18:25