Michael Mann’s ‘Heat 2’ Nabs $37 Million, ‘Jumanji’ Sequel Gets $44 Million In California Tax Credits

As seen in The Hollywood Reporter

Michael Mann’s Heat 2 and the next installment to Sony Pictures’ Jumanji headline the first round of movie subsidies to Hollywood after California’s historic expansion of the entertainment tax credit program, a bid to revitalize production in the state.

In total, 52 films will get $334 million in incentives for shooting in California, the film commission announced on Tuesday. They’re projected to generate $1.4 billion in economic activity across businesses with ties to the entertainment industry and employ 8,900 cast and crew members. Most of the filming will take place in Los Angeles, where shooting levels are at an all-time low.

This allotment of subsidies saw twice as many bids for tax credits compared to the same application window last year, according to the film commission. The main changes to the program reflect its increased popularity: more than doubling the total cap from $330 million to $750 million; the 35 percent base credit; and increased accessibility to the incentive for independent films.

“Those projects would have gotten made but not here in California without our robust program and the changes that we made,” says California Film Commission executive director Colleen Bell. She adds, “We have slowly been losing our market share of entertainment production as other jurisdictions improve their competitiveness but, right now, we’re in a great position to not only curb runaway production but grow production here in the state.”