Earlier this week I posted my interview with John Krasinski and Drew Barrymore for Big Miracle, which is due out this Friday. Within that interview, Krasinski was asked to talk about the untitled project that he wrote and that Matt Damon was attached to direct before scheduling problems got in the way. Now, however, Gus Van Sant is on board and now the movie may have locked up distribution and financing.

Deadline reports that Focus Features and Participant Media have won a bidding war for the project, which is now titled Promised Land. Originally titled Gold Mist, the movie is described as a "Capraesque tale" in which Damon and Krasinski play rival corporate executives. When Damon's character moves to a small town, however, his entire perspective on life is completely changed. When Damon was attached to direct the movie was set up at Warner Bros. within the production company that Damon owns with Ben Affleck. The project has a $15 million budget and will mark the first time that Focus and Participant have co-produced a film.

The film will mark the fourth time that Damon has worked with Van Sant as a director, the other three being Good Will Hunting, Gerry and Finding Forester (though the last movie on that list is really more of a cameo for the Oscar nominated actor). Promised Land will go into production this April. Discussing what it's like to have Van Sant as a director, Krasinski said, "I think that Gus is one of the most talented directors there is or ever has been. He’s an incredible storyteller and for our movie in particular he’s going to be unbelievable. So I’m thrilled."