PROVIDENCE – Kyra Sedgwick’s sci-fi film, which began production in Rhode Island this week, has asked for $1.5 million in tax credits from the state, according to the application filed with the R.I. Division of Taxation on May 18.
The credits will not be issued until after filming has ended and the Division of Taxation completes a “deep scouring audit” of how the project spent its money to ensure it meets the standards set under the state’s motion picture tax credit program, according to Steven Feinberg, executive director for the Rhode Island Film & Television Office.
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The state tax credit program offers a 30% in tax breaks on films or TV series that primarily shoot in Rhode Island and have a total budget of at least $100,000, or, if not primarily located in state, spend at least $10 million in state production costs. Per-project credits are capped at $7 million.
Based on the anticipated $5 million spending in Rhode Island, Space Oddity anticipates qualifying for $1.5 million in tax credits, according to the application. The project, which started filming in North Kingstown this week, anticipates creating 90 full and part-time jobs as well as additional spending on state-registered vendors, according to the application.
The film comes as the R.I. House of Representatives considers a fiscal 2022 spending plan that includes an increase in total funds allocated for the film tax credit. The House budget to be voted on today calls for $30 million set aside for production tax credits in calendar year 2022, a $10 million increase over the current fiscal year.
If approved, credits for “Space Oddity” would come from the 2021 funding, since that is the year the production took place, Feinberg said.
Sedgwick, an Emmy winner known for her role on “The Closer” on TNT, will direct the film which features a number of familiar names including Kyle Allen of “West Side Story,” Alexandra Shipp of the X-Men franchise and Madeline Brewer from “The Handmaid’s Tale.” The independent production tell the story of Alex (Allen) who, after giving up on Earth and deciding to leave it all behind for a one-way mission to Mars, develops an unexpected romance with Daisy (Shipp), the enigmatic town newcomer, who forces him to choose between an uncertain journey to the stars and an even more uncertain journey of the heart.
“There is no better place to film this story than in the beautiful state of Rhode Island. Shooting ‘Space Oddity‘ in Rhode Island is a breath of fresh air,” Sedgwick said in a statement. “Everyone from the Rhode Island Film Office to the Town of Wickford has welcomed us with open arms. We have a local crew that can’t be beat and the locations are magical. We couldn’t be more delighted for the opportunity to make our film here.”
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
