Mark Wahlberg Lobbies to Transfer Hollywood to Las Vegas
The actor is pushing Nevada lawmakers to pass a package of tax credits worth $190 million annually to woo film production to Las Vegas.
Boogie Nights actor Mark Wahlberg lobbied Nevada state lawmakers to pass a bill that would coax more film production to Las Vegas. Nevada state lawmakers will vote on a bill to increase film production tax credits from $10 million to $190 million annually over the next 20 years.
“I would love to see us building studios, creating jobs, and just diversifying the economy,” Wahlberg, who resides in Las Vegas, told in an interview outside the Nevada Legislature Building. “I’ve moved my last film here. I’m shooting another film here coming up in the summertime.”
Sony Pictures Entertainment and Howard Hughes Corporation are co-sponsors of the bill that would clear the path for developing two movie studio sites: Howard Hughes’ location in Summerlin, NV, and another by Birtcher, called Las Vegas Media Campus. That studio would sit on the University of Nevada Las Vegas technology park, including educational facilities for job training in the film industry.
Once those studios are up and running, production companies could apply for tax credits. These credits will cover 30% of cost, up from the previous 15%. As an added bonus, the production companies can even sell any unused credits to other companies, making this investment a smart financial move.
Nevada’s economy is booming due to the gaming and tourism industry. The state just set a record with $1.1 billion in monthly gross gaming revenue. That makes the 26th month in a row that Nevada’s revenue on gaming has topped $1 billion. Opponents of the tax incentives argue the state’s financial resources could be more efficiently deployed elsewhere.
Source: CNBC
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The actor is pushing Nevada lawmakers to pass a package of tax credits worth $190 million annually to woo film production to Las Vegas.
Boogie Nights actor Mark Wahlberg lobbied Nevada state lawmakers to pass a bill that would coax more film production to Las Vegas. Nevada state lawmakers will vote on a bill to increase film production tax credits from $10 million to $190 million annually over the next 20 years.
“I would love to see us building studios, creating jobs, and just diversifying the economy,” Wahlberg, who resides in Las Vegas, told in an interview outside the Nevada Legislature Building. “I’ve moved my last film here. I’m shooting another film here coming up in the summertime.”
Sony Pictures Entertainment and Howard Hughes Corporation are co-sponsors of the bill that would clear the path for developing two movie studio sites: Howard Hughes’ location in Summerlin, NV, and another by Birtcher, called Las Vegas Media Campus. That studio would sit on the University of Nevada Las Vegas technology park, including educational facilities for job training in the film industry.
Once those studios are up and running, production companies could apply for tax credits. These credits will cover 30% of cost, up from the previous 15%. As an added bonus, the production companies can even sell any unused credits to other companies, making this investment a smart financial move.
Nevada’s economy is booming due to the gaming and tourism industry. The state just set a record with $1.1 billion in monthly gross gaming revenue. That makes the 26th month in a row that Nevada’s revenue on gaming has topped $1 billion. Opponents of the tax incentives argue the state’s financial resources could be more efficiently deployed elsewhere.
Source: CNBC
Share:
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