Travis Kelce's Debut as a Film Producer Is Also the First Movie Financed by Joe Biden's Green Energy Tax Credits [View all]
Variety link:
https://variety.com/2024/film/news/travis-kelce-my-dead-friend-zoe-financed-energy-tax-credits-1235908057/
Joe Biden didnt score an endorsement from Taylor Swift on Super Bowl Sunday, as some had predicted. But her boyfriend Travis Kelce is using the presidents renewable energy tax credits to finance the film My Dead Friend Zoe.
The SXSW-bound indie, which stars Natalie Morales, Ed Harris and Morgan Freeman and Sonequa Martin-Green, marks Kelces first foray into movies, with the Kansas City Chiefs tight end serving as an executive producer. The investors in the low-budget dark comedy, which include Kelce, are the first to take advantage of 2022s Inflation Reduction Act to finance a film. (My Dead Friend Zoe cost less than $10 million.)
The Inflation Reduction Act, which was passed in August 2022, marks the single largest investment in climate and energy in American history, enabling America to tackle the climate crisis, advancing environmental justice, securing Americas position as a world leader in domestic clean energy manufacturing and putting the United States on a pathway to achieving the Biden-Harris Administrations climate goals, including a net-zero economy by 2050, according to the U.S. Department of Energys web site. My Dead Friend Zoe used money generated by green energy entrepreneur Mike Fields sale of surplus tax credits. (Field is also a producer on the film.)
Hollywood is risky, right? On a scale of one to 10, Hollywood, it is a 9.5. Especially in terms of independent film, says My Dead Friend Zoe producer Ray Maiello, who runs California-based Radiant Media Studios with Field. These federal tax credits take the risk down to like a five.
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Maybe Taylor Swift will be cast in a small role?