Spielberg's West Side Story approved for New Jersey tax credits

Steven Spielberg’s latest feature, West Side Story, is to receive tax credits from the New Jersey Economic Development Board alongside Batman origins story Joker, starring Joaquin Phoenix and Robert De Niro.

The state’s scheme requires a film to spend at least 60% of its total budget in New Jersey or incur more than $1m in qualified production expenses in the state. Both projects have also qualified for the scheme’s bonus two percent diversity tax credit, which they will receive upon completion if the various criteria are met.

Local outlet NJ.com reported that Spielberg’s feature will receive nearly $6.9m while Joker stands to benefit by around $2m.

“These two major productions are bringing jobs to our state and bolstering the economy of New Jersey while supporting our diverse communities,” said governor Phil Murphy.

“I am proud to see the film industry growing and thriving in the Garden State and excited to see New Jersey become the backdrop for more movies and television shows in the future.”

Joker, currently filming in Newark, explores the character of the Batman super-villain from when he was a mild-mannered young man looking after his mother.

West Side Story is currently filming in Paterson for Twentieth Century Fox, with Spielberg directing a cast headed by Ansel Elgort and Rachel Zegler. 

Image: Fox and Amblin Entertainment.