The Arizona tax incentive will offer a refundable credit worth 15-20% of a project’s costs, depending on the size of the investment. The project is also expected to include post-production facilities. The first phase will include 16 soundstages, with the potential to expand to as many as 64 soundstages in later phases. The project will cost “multiple hundreds of millions of dollars,” he said. The Desert Studios Complex expects to break ground in the first quarter of 2023, said Nick Simonetta, the project’s lobbyist. George is also president of Castle Rock Entertainment, the company founded and run by Rob Reiner. The project is expected to cost at least $200 million, George said, and will be developed in partnership with the Tunica-Biloxi Tribe of Louisiana. A subsequent phase will add more soundstages, plus post-production facilities. The project will be built in phases, with the first phase including seven soundstages. “This bill is designed to attract people to build those facilities,” said Randy Murray, a board member of the Arizona Film and Digital Media Coalition.Īcacia plans to break ground next year, with construction expected to take about 18 months. In order to qualify, productions must either film on a soundstage of at least 10,000 square feet, or - if the production relies on location shoots - do all post-production at a “qualified production facility” in the state.īut the state has relatively little in the way of filming infrastructure. The new credit will launch in 2023 with a cap of $75 million, ramping up to $125 million in 2025.
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