‘Michael’ Sequel Among 35 Films Approved for California Tax Incentive
New Line's sequel to Ice Cube's "Friday" series was also approved along with 28 indie productions The post ‘Michael’ Sequel Among 35 Films Approved for California Tax Incentive appeared first on TheWrap .
The latest batch of 35 films has been approved for California's production incentive program, with Lionsgate's upcoming "Michael" sequel leading the charge. This round of projects is expected to employ 30,000 cast, crew, and background actors while generating $1.08 billion in combined production spending for the state. California Governor Gavin Newsom emphasized the state's commitment to supporting entertainment and its future growth by expanding tax credits and standing up for performers in the age of AI.
The "Michael" sequel is set to be directed by Antoine Fuqua, with Jaafar Jackson returning as the lead and Antoine Fuqua directing. New Line's upcoming "Friday" film sequel, with Ice Cube returning to write, star, and produce, and Aaron McGruder co-writing, was also approved for the tax credit. Ice Cube expressed his excitement about staying local, noting the film's historical significance in South Los Angeles.
Additionally, Skydance secured approval for two untitled films from Paramount and Warner Bros., following a settlement with California AG Rob Bonta to keep Warner Bros. in California. The approval of 28 independent films, including eight with budgets over $10 million, showcases the diverse range of projects benefiting from the tax incentive.
With the state incentive program's cap raised to $700 million last year, 179 film and TV projects have been approved, contributing $7.2 billion in production spending and supporting nearly 38,000 jobs.
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