Hollywood Gold Rush! $313M Tax Credits Unleashed - What Shows Made the Cut?!

Mr. Smith went to Washington a long time ago, but it seems Mr. & Mrs. Smith are finally planting roots in California. The highly anticipated second season of the Amazon spy series, along with the third season of the wildly popular 'Fallout' and a second helping of Netflix’s 'Forever,' are among the 17 shows just awarded a hefty chunk of California tax credits. In a move projected to inject a staggering $1.2 billion into the state's economy through wages, taxes, and other expenditures, California is handing out over $313 million in incentives to boost production right here in Hollywood's backyard. This marks the second round of small-screen awards since Governor Gavin Newsom officially expanded the Film and TV program to a whopping $750 million annually earlier this year.

Hollywood Gold Rush! $313M Tax Credits Unleashed -...

Out of this latest round, with notifications delivered by the California Film Commission on November 10th, the Walton Goggins-led 'Fallout' topped the list, securing a generous $42 million allocation. "We are so grateful to the film crews, the state legislators, and everyone who took a stand to protect the creative economy and future of California," exclaimed 'Fallout' showrunner Jonathan Nolan, underscoring the significance of these incentives in keeping production in the state. Last year, Lisa Joy’s 'Fallout' snagged $25 million in California tax credits for its second season, a move that saw the L.A.-set post-apocalyptic drama relocate from its first season's filming locations in New York, New Jersey, and Utah, all the way to the actual City of Angels. Talk about commitment!

"We are incredibly proud to be shooting here and investing that money back into the place that gave so many of us our start, and that so many of us call home," Nolan added, highlighting 'Fallout's' now-recurring presence in California thanks to this Season 3 allocation. Speaking of home, 'Mr. & Mrs. Smith,' classified as a relocating series, scooped up a significant $31.9 million from the state. It joins the fourth season of 'The Night Agent' ($31.5 million) and the surprising resurrection of 'Baywatch' for a 12th season ($21.05 million) – talk about a lifeguard comeback!

The second season of 'Mr. & Mrs. Smith' is anticipated to bring in nearly $80 million in qualified expenditures to California over its 78 filming days. It's also expected to employ a substantial workforce, including 20 primary cast members, 220 base crew members, and over 2100 "total background performers in days worked," as the CFC puts it. It's worth noting that the nearly $32 million 'Mr. & Mrs. Smith' S2 received today is a notable bump from the $22.4 million the series was initially granted in tax credits this past spring. Since that initial announcement in July, spearheaded by Governor Newsom, the state legislature passed the increase to the tax credits program from its previous $330 million cap. What’s more, the base credit went up to 35% from the previous 25%. Add that, the additional 5% uplift...