Chris Evans, Ryan Gosling's Netflix film 'Gray Man' gets $20 Million California Tax Credit

Gray Man is an upcoming Netflix action-thriller starring Chris Evans and Ryan Gosling. The movie has been selected for a $20 million production tax credit allocation by the California Film Commission. Also known as movie production incentives, the tax credit is offered on a state to state basis throughout the United States to encourage in-state film production.

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'Gray Man' gets $20 million California Tax Credit

According to Variety, Avengers: Endgame directors’ Joe and Anthony Russo’s forthcoming directorial venture, Gray Man was by far the largest credit amount disclosed on Monday. It is among the $50 million in conditional allocations of nine film projects. The list includes $8.4 million for Jordan Peele’s untitled project, $2.5 million for Invasion a sci-fi thriller by Octavia Spencer, $2.3 million for Losing Clementine a drama film by Jessica Chastain, and $1.4 million for the sports drama Sweetwater about the first African American player in the NBA.

As per reports, Gray Man will bring an estimated $102 million in below-the-line wages and other qualified expenditures to the state of California. The movie is just behind Captain Marvel (2019) in the list of big-budget tax credit film projects. Brie Larson starrer Captain Marvel was granted a $20.8 million tax credit while shooting in 2017. Bumblebee, Captain America, Ford v. Ferrari and Once Upon a Time in Hollywood are a few big-budget films that have received California tax credits.

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The amount of California program was tripled in 2015 to $330 million annually in order to compete effectively with New York and Georgia with a credit of up to 25% of qualified expenditures spent in California and selection based on a job creation formula. The five-year extension of the scheme, named California’s Film & TV Tax Credit Program 3.0, was launched on July 1, 2020, with various new provisions. It includes a pilot skills training facilitation to support individuals from underserved communities and enhanced reporting of above and below-the-line cast and crew employment diversity data.

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Two weeks’ prior, the commission announced that TBS’s Miracle Workers and HBO’s In Treatment would each receive a $5 million in tax credits for relocating to California. In an interview with Variety, California Film Commission executive director Colleen Bell opened up about the new scheme. He said that after relocating two TV series, their new tax credit program continues to get off to a “great start” with the latest list of film projects. Production activity is ramping back up in California amid COVID-19, and Program 3.0 is attracting the kind of big-budget films that generate a considerable amount of jobs and in-state spending, Bell noted.

The commission informed that the nine-film projects (five independent, four dependents) will bring $284 million in qualified in-state expenditures. They will employ an estimated 1,340 crew, 342 cast and 14,397 background stand-ins/actors over a combined shooting of 374 days in California. A total of 81 projects have applied during the July 13-15 application time for Program 3.0’s inaugural round of feature film tax credits.