Transformers Spinoff Bumblebee To Receive $22-Million Tax Credit, California's Biggest So Far

Discussion in 'Transformers Movie Discussion' started by pie125, Jul 11, 2017.

  1. pie125

    pie125 Well-Known Member

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    'Transformers' spinoff 'Bumblebee' to receive $22-million tax credit, California's biggest so far

    In a major boon to local production, “Bumblebee,” the spinoff movie from Paramount’s “Transformers” franchise, will shoot in California with the help of a $22-million tax credit.

    It’s the largest tax break awarded to date under a state program aimed at curbing so-called runaway production.

    The new movie will film entirely in California, according to a Paramount spokesman. Production is expected to take place in the Los Angeles area as well as in Northern California, according to two people familiar with the project who requested anonymity because they were not authorized to discuss it publicly.

    The production, described only in state records as the “Untitled Paramount Project,” has received preliminary approval to receive a state tax credit of $22 million, according to the California Film Commission.

    $18 million in credits approved in August 2016 for Walt Disney Studio’s “A Wrinkle in Time,” which also shot in California.

    Filmmakers can recoup as much as 25% of their spending (up to the first $100 million) on crew salaries and other qualified costs, such as building sets. Studios can then use such credits to offset state tax liabilities they have in California.

    “Bumblebee” is scheduled to begin shooting this summer in anticipation of a 2018 release. The movie, starring Hailee Steinfeld, will serve as a prequel to the popular “Transformers” movies and will explore the origins of the Bumblebee character on Earth. Travis Knight, who directed the Oscar-nominated animated movie “Kubo and the Two Strings,” is directing.

    Previous installments in the “Transformers” cycle have filmed in the U.S. and around the world, including in China and Great Britain. The fifth and most recent release, “Transformers: The Last Knight,” opened in cinemas last month and has so far grossed $495 million worldwide.

    Warner Bros.’ “A Star is Born.”

    The incentive program was designed to entice more major motion pictures to choose California and reverse the tide of runaway productions to states like Georgia and Louisiana, which both offer lucrative tax incentives.

    California officials hope that more in-state film shoots will help spur local economies through spending and hiring.
     
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  2. transformervic1

    transformervic1 HI!

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    I'm not too familiar with how major/minor the cut actually is but i do know it's a step in the right direction for Hollywood to keep their production studios state side.

    As for the Bee movie only being shot in California is already a huge difference in production from the last films as Bay took it all over the world.
     
  3. Ryan101

    Ryan101 That Dude

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    This makes me happy. I know I've said it multiple times on this forum but a smaller scale movie is part of what we need for a nice change.
     
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  4. Ephland

    Ephland Let's Go Rangers

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    Where were those "backyard" pictures taken?
     
  5. Black Convoy

    Black Convoy Proudly Peruvian Transfan News Staff

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  6. JohnRedcorn

    JohnRedcorn Well-Known Member

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    Thank the Californian state taxpayers :D 
     
  7. Stygian360

    Stygian360 Well-Known Member

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    With most of the actual footage to be more than likely CGI or augmented heavily with it to the viewer they won't be able to tell where it's shot. But switching back to Cali is actually a good thing because I'm tired of everything in many major films these days being shot in Chicago.
     
  8. Gallade

    Gallade Lost Hope

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    This is amazing news since I live here in CA.
     
  9. Wrecker217

    Wrecker217 Heart Like a Hand Grenade

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    What part of NorCal? If it\'s gonna be in the Bay Area then I want to be an extra. 
     
  10. Autobot Jamie

    Autobot Jamie Member

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    So it\'s just California awarding studios for picking their state? Huh odd but means more money to make the movie right?
     
  11. bellpeppers

    bellpeppers A Meat Popsicle

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    Forum rules prevent me from speaking my peace on the matter;

    Suffice it to say: You're welcome
     
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  12. Terradives

    Terradives Well-Known Member

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    So glad my tax dollars aren't going to this train wreck of a movie. My God what are people thinking?
     
  13. tonyformer

    tonyformer Well-Known Member

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    Well a 22 million dollar tax break for a lower budget movie like this is a Massive help to the movie! That's a lot of extra money that can go into making the movie a much better movie. Keeping it in one state also keeps the production cost WAY DOWN. No need to transport everything and everyone all over the country or world. No need to do massive deals with other countries for promotions and keeping it local means stress levels on everyone involved should be at a minimum lol. Now make sure this is tied in nicely to events in the first movie and we have something here.
     
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  14. JohnRedcorn

    JohnRedcorn Well-Known Member

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    In all honesty, there is really no need for Transformer movies to travel around the globe to get shots especially since a lot of blockbuster movies rely on green screen. If I am not mistaken Michael Bay does the globe trotting thing because he's into the verisimilitude-style of filming (and perhaps help his crew who does practical effects to get a pay check)
     
  15. JohnRedcorn

    JohnRedcorn Well-Known Member

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    Glad I live in a no-state tax state. kidding.;) 
     
  16. dragon

    dragon Well-Known Member

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    Well transformer fans wanted new director you get what you have complaining about for almost seven years

    What about movies REVENANT , bucket list, dark knight rises, guardians of galaxy , iron man, captain America those movies had travel location bay is not only one
     
  17. JohnRedcorn

    JohnRedcorn Well-Known Member

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    Respectfully, you missed my point. I am saying that with green screen shooting being the norm, there is no reason to do on-set location that Bay is so fond of doing.
     
  18. Chaos Prime

    Chaos Prime Combaticon

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    This movie isn't being directed my Michael Bay. This might be 'the good one' of the series. This could be the beginning of an 'X-Men First Class' type reboot where all could be forgiven. At least I'm crossing my fingers anyway...
     
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  19. normtrooper

    normtrooper Well-Known Member

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    I've heard they are really trying to save money on this one in literally every department after TLK failed to keep up with its predecessor. Steve Jablonsky has been spotted on set with a kazoo.
     
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  20. Gordon_4

    Gordon_4 The Big Engine

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    This isn't unusual surely? I seem to recall there being similar breaks or benefits for movies filming in Sydney and Melbourne around the time of the first Matrix film.
     

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