LAS VEGAS, Nev. (FOX5) – Warner Bros. Discovery has announced plans for its Southern Nevada studio project and its economic impact on the state.
The global media and entertainment company explained that it has the potential to create high-paying jobs to boost the state’s economy.
Officials report that these plans cannot be accomplished without an expansion of the film tax credit. If passed, the bill would commit production companies $500 million in content production over the first three years.
According to reports, WBD will partner with the University of Nevada to operate Warner Bros. Studios Nevada.
More: Warner Bros. pumps $8.5 billion into future Las Vegas movie studio
Warner Bros. said, “According to a WBD economic study, the production credit program will result in an ongoing contribution of $1.2 billion to Nevada’s gross state product, equating to $13.5 billion over 15 years.” said.
The plan details the studio attractions that will be included in the Las Vegas development. They say it will look similar to those operating in Hollywood, London and Tokyo.
Simon Robinson, chief operating officer of Warner Bros. Studios, said: “This is more than just a studio project for us; it’s a full-scale investment in Nevada that includes film and television production, touring, film tourism and education. It’s a great initiative.” “We are excited to make Southern Nevada our third global studio and establish a lasting public-private partnership that will benefit the state’s economy.”
According to the release, WBD plans to launch CREW HQ Production Training in 2025 to foster community engagement and talent development programs.
Construction is expected to take about three years.
WBD shared that Nordicity has analyzed the potential financial impact of Nevada Studios.
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