KNTV: Warner Bros. Discovery commits to $8.5 billion production spend at Las Vegas studio
By Jarah Wright | KNTV | Published August 20, 2024
KNTV: Warner Bros. Discovery commits to $8.5 billion production spend at Las Vegas studio
LAS VEGAS (KTNV) — Another film studio is getting ready to plant their flag in the Las Vegas area.
On Tuesday, Warner Bros. Discovery announced they are partnering with UNLV and Birtcher Development through a long-term commitment to lease, operate and fully occupy Nevada Studios, which will be located at UNLV Harry Reid Research & Technology Park. That's located near the 215 and Durango Drive.
According to a press release, Nevada Studios will be renamed "Warner Bros. Studios Nevada", and feature full-service film and television studios and other facilities "designed to capitalize on emerging technologies related to WBD's content creation."
The 34-acre campus will also feature the Nevada Media and Technology Lab, which will have opportunities for the UNLV film department and other academic departments at the university. That includes space to support vocational training, internships, and research and workforce development opportunities for both K-12 and higher education partners throughout Nevada.
"In addition to our best-in-class studios in Burbank, CA and Leavesden, UK, Warner Bros. Studios Nevada represents a great opportunity to further expand our facilities to accommodate these productions and more in the future," said Simon Robinson, Chief Operating Officer of Warner Bros. Studios. "We are fully committed and excited about the potential of a long-term partnership and presence in Nevada and are confident it will be a win/win for the State of Nevada, the Las Vegas community and WBD as we look ahead to our next 100 years of exceptional storytelling."
Sony Pictures could also be coming to the valley with a studio project in the Summerlin area, which is backed by Howard Hughes Holdings.
Howard Hughes CEO David O'Reilly said the project will bring 10,000 high-paying jobs to the valley.
Both projects have received support from Hollywood A-listers like Mark Wahlberg and Jeremy Renner.
"There are tons of talented people here but also, to attract new people you have to make sure that there is a guarantee you work for X amount of time and [the state] wants to make sure that if they're giving up the tax credit that people are going to come," Wahlberg previously said. "I think they're very excited to create a new industry outside of gaming."
Those projects are still pending while state lawmakers consider the Nevada Film Studio Infrastructure Act.
While a 2023 version of the bill stalled during the last session, Nevada Senator Roberta Lange is looking to bring back a revised version for the 2025 Legislative Session.
"When talking with citizens, we hear repeatedly that we need to further diversify our southern Nevada economy and at the same time, commit the resources to develop our workforce. These are top priorities for us all, and I can proudly say my legislation accomplishes both," Lange said. "Previously, it was twice as much investment by the state. And so, we have put it to a more manageable number that I think the state could afford."
Current Nevada law caps tax credits at $6 million per production and limits the state from providing more than $10 million in tax credits for all film productions annually.
The 2023 version of the bill planned to offer up to $190 million in annual film tax credits but the 2025 version of the bill would lower that amount to $95 million a year, according to Lange.
Article source: https://www.ktnv.com/news/warner-bros-discovery-partners-with-unlv-to-lease-operate-las-vegas-film-studio