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Travis Kelce enters film industry, taps into renewable energy tax credits as producer
Travis Kelce the boyfriend of pop sensation Taylor Swift, is making waves in the film industry with his debut as an executive producer for the movie My Dead Friend Zoe.
Utilizing President Biden’s renewable energy tax credits, he and his fellow investors are paving the way for the production of this indie film, bound for the SXSW festival.
Starring Natalie Morales, Ed Harris, Morgan Freeman, and Sonequa Martin-Green, the low-budget dark comedy is the first to benefit from the 2022 Inflation Reduction Act for film financing.
With a production cost under $10 million, Kelce’s venture marks a significant milestone in his transition from Kansas City Chiefs tight end to Hollywood producer.
The Inflation Reduction Act, passed in August 2022, represents a significant milestone in America’s efforts to combat climate change and advance clean energy initiatives.
According to the U.S. Department of Energy’s website, this legislation constitutes the largest investment in climate and energy in American history.
It aims to address the climate crisis, promote environmental justice, bolster domestic clean energy manufacturing, and align with the Biden-Harris Administration’s goal of achieving a net-zero economy by 2050.
In the financing of My Dead Friend Zoe, surplus tax credits generated by green energy entrepreneur Mike Field played a pivotal role.
Field, also a producer on the film, utilized these funds to contribute to the production’s budget, highlighting the innovative ways in which renewable energy initiatives can support creative endeavors in the entertainment industry.
Maiello emphasizes that the utilization of federal tax credits significantly mitigates this risk, lowering it from a daunting 9.5 to a more manageable five on the risk scale.
