Warner Bros. Discovery (WBD) announced on Tuesday a commitment of $8.5 billion to partner with the University of Nevada, Las Vegas (UNLV) in leasing and operating a movie and TV studio in Nevada, developed by Birtcher Development. However, this commitment is contingent upon the passage of a film tax credit bill in the Nevada Legislature.
The Nevada Film Studio Infrastructure Act, introduced by State Senator Roberta Lange (D-LV) during the 2023 legislative session, aims to provide up to $190 million in annual, transferable tax credits for film and TV production over more than two decades. Although this could cost the state $2 billion, supporters of the bill argue it could generate as much as $55 billion in revenue over the next 20 years. Unfortunately, the bill failed to pass on June 6, 2023, but it is expected to be reintroduced in February 2025.
“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,” declared Sen. Lange in a press release. “These are top priorities for us all, and I can proudly say my legislation accomplishes both.”
The proposed Warner Bros. Studios Nevada will feature full-service film and television studios, alongside other state-of-the-art facilities designed to leverage emerging technologies in WBD’s content creation. These facilities will be located at UNLV’s Harry Reid Research & Technology Park in Las Vegas and will include the Nevada Media and Technology Lab for the university’s film department.
“It’s safe to say that having a lead partner with the depth of Warner Bros. and its ability to keep the studios full starting from Day One is a key difference maker and enables us to successfully meet these two priorities,” Lange added.
In a twist of competitive intrigue, WBD’s rival, Sony Pictures Entertainment, had initially shown interest in a similar partnership with UNLV and Birtcher. Instead, Sony joined forces with the Howard Hughes Corporation for a competing $1.8 billion motion picture studio project proposed for 30 acres in the Las Vegas suburb of Summerlin. This project has already gained unanimous support from the Clark County Zoning Commission as of March.
