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LAS VEGAS (KLAS) — Bringing movie studios to Las Vegas could provide a $1.2 billion boost to the economy each year and more than 16,500 ongoing jobs, according to an economic study released by Warner Bros. Discovery on Wednesday.
Nevada got a glimpse of the trailer in 2023 when movie studio proposals emerged late in the legislative session. Now, details of the blockbuster plan are getting ready to hit the big screen. Endorsements from big name movie stars are likely again — but first, the studio is pitching economic star power.
In August, Warner Bros. Discovery (WBD) said it plans to commit more than $8 billion to the project, a partnership with UNLV to take Nevada Studios to the next level as “Warner Bros. Studios Nevada at UNLV’s Harry Reid Research & Technology Park in Las Vegas, a 34-acre campus.
Today’s pitch also sweetens the deal. “As an additional part of the plan, WBD will include a studio attraction similar to the ones they operate in Hollywood, London and Tokyo,” according to WBD’s news release. No additional details were provided on that plan.
Warner Bros. commits to $8.5B for Nevada Studios, but there’s a condition
The massive proposal didn’t come to a vote as the 2023 session ended and lawmakers put their focus on education funding and a deal to build the A’s stadium in Las Vegas. This session, Warner Bros. and Sony will be pressing right from the start. The session begins in early February.
The deal is built around Senate Bill 496, introduced by Democratic Senator Roberta Lange. It has been called “The Film Bill” and “The Lange Bill.” It is structured differently from other tax deals that are typically crafted by the Governor’s Office of Economic Development. The tax credits are awarded when “qualified productions” are completed, with about 30% of production costs applied to taxes. The $10 million cap under state law is raised to $15 million until 2043.
Critics of the project have said promises of jobs have been made before to other cities, and local production workers have been squeezed out. Neighborhoods near the proposed sites in Las Vegas have expressed concerns about traffic.
“This is more than just a studio project for us — it’s a full-scale commitment to Nevada including film and TV production, tour attraction, screen tourism and education,” Simon Robinson, Chief Operating Officer of Warner Bros. Studios, said in the news release. “We are excited to make southern Nevada our third global studio and to establish a lasting public-private partnership that benefits the state economy.”
Among the benefits listed in the WBD-funded economic study:
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16,630 ongoing jobs for Nevadans: 11,980 studio film and TV production jobs, and 4,650 jobs generated by other film and TV production, Nevada Media and Technology Lab, tourism, retail and hotel (direct, indirect and induced)
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$564 million in ongoing annual salaries and wages for Nevadans
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More than 1,000 construction jobs during the 36-month site development phase, supporting an additional 800 jobs
The studio projects depend on passage of The Film Bill. Construction will begin within months of the bill’s enactment, WBD said.
“Since pledging $8.5 billion to our state, Warner Bros. has thoroughly researched the long-term benefits for Nevada, and the anticipated ROI and job creation make this a private-public partnership opportunity we cannot afford to overlook,” Lange said.
Warner Bros. Studios Nevada will contribute significantly to Nevada’s ongoing economic diversification with high-paying jobs, according to WBD’s news release. The studios will add a new film and TV industry hub where the national average salary is 35% higher than Nevada’s 2023 economy-wide average, WBD said.
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