Travis Kelce Utilizes Biden's Renewable Energy Tax Credits to Finance Indie Film My Dead Friend Zoe

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ICARO Media Group
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13/02/2024 20h48

In a surprising turn of events, Kansas City Chiefs tight end Travis Kelce is delving into the world of Hollywood as an executive producer for the upcoming indie film "My Dead Friend Zoe." The film, which stars Natalie Morales, Ed Harris, and Morgan Freeman, is financed through the utilization of President Joe Biden's renewable energy tax credits.

Kelce, along with other investors, including the film's producer Ray Maiello, is taking advantage of the Inflation Reduction Act passed in August 2022. This act is hailed as the largest investment in climate and energy in American history, aiming to tackle the climate crisis and propel the nation towards achieving a net-zero economy by 2050.

The low-budget dark comedy "My Dead Friend Zoe," costing less than $10 million, is the first film to benefit from the Inflation Reduction Act. The funds were generated by green energy entrepreneur Mike Field's sale of surplus tax credits. Field, who is also a producer on the film, is collaborating with Kelce and Maiello to utilize the act's benefits for their second project, the Jean-Michel Basquiat documentary "King Pleasure."

The decision to tap into the Inflation Reduction Act's federal tax credits has significantly reduced the risk involved in producing independent films. Maiello expressed, "Hollywood is risky, right? On a scale of one to 10, Hollywood, it is a 9.5. Especially in terms of independent film. These federal tax credits take the risk down to like a five."

Kelce's venture into the film industry mirrors that of NFL legend Tom Brady, who recently appeared in the hit comedy "80 for Brady" and has been actively involved in producing projects. Kelce's representation is handled by CAA, indicating his seriousness in expanding his horizons beyond football.

Directed by Kyle Hausmann-Stokes, "My Dead Friend Zoe" tells the story of a female Afghanistan veteran, portrayed by Natalie Morales, who confronts her Vietnam veteran grandfather, played by Ed Harris, at their family's ancestral lake house. The film is set to premiere at SXSW on March 9 and will be sold by CAA.

Kelce's involvement in financing independent films through Biden's renewable energy tax credits could potentially pave the way for others in Hollywood to follow suit. The combination of government incentives and Hollywood investments may aid in revitalizing the indie film sector, which has been struggling in recent years.

While Kelce has confirmed his return for the 2024-25 NFL season with the Kansas City Chiefs, his foray into Hollywood suggests a multi-faceted career that parallels his success on the football field.

It remains to be seen if Travis Kelce's endeavor into the world of film production will mark the beginning of a new trend in Hollywood, but it certainly highlights the potential of combining renewable energy tax credits with entertainment investments.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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