Adam Sandler's Happy Gilmore 2 is doing huge numbers for Netflix, but the movie may never have happened without New Jersey stepping up to provide the infrastructure and tax incentives to make the film happen. The production spent a record-breaking $152.5 million in the state, making it the largest film production expenditure in New Jersey's history.Production spent an average of $2.3 million per day while in the state, which is a major economic boom.So, how did a state once primarily known for The Sopranos and Bon Jovi become a blockbuster production hub? The answer, my friends, is all about the tax credits.The Power of a Good IncentiveTo reward all that money coming in, New Jersey awarded the production roughly $62.5 million in tax credits, which offset the cost of production. Netflix obviously liked working with the state, because they're going to build a $1 billion studio there and invest heavily in shooting in the area. New Jersey's Film and Digital Media Tax Credit Program is aggressively attracting major productions that might have otherwise filmed in traditional hotspots like Georgia or California. “Under Governor Murphy’s leadership, New Jersey has become a Happy Place for filmmakers, with our above par tax credits, all-star local talent, and diverse locations,” said NJEDA Chief Executive Officer Tim Sullivan. He continued, “As productions continue selecting New Jersey, the film industry will boost our economy by helping generate good-paying jobs and support small businesses throughout the state.”What This Means for FilmmakersNow, you might be thinking, "That's great...
Published By: NoFilmSchool - Yesterday