ARIZONA NEWS

New state tax incentives lure big movie studio projects to Phoenix area

Jul 27, 2022, 4:25 AM

PHOENIX – Two multimillion-dollar movie studio projects are moving ahead in metro Phoenix after Arizona lawmakers authorized lucrative incentives to create a film industry in the state.

The Legislature passed the Arizona Motion Picture Production Program late in the last session, which ended in June, and Gov. Doug Ducey let bill become law without signing it.

The program offers tax credits to cover a percentage of costs up to $25 million annually to companies that make a movie at a qualified production facility in Arizona.

The cap starts at $75 million next year, rises to $100 million in 2024 and goes to $125 million in 2025 and beyond. The program was authorized through 2043.

Randy Murray, who is with the Arizona Film and Digital Media Coalition, and others helped state Sen. David Gowan craft the legislation.

“It is designed to build an industry here in Arizona,” Murray, owner of Phoenix’s Randy Murray Productions, told KTAR News 92.3 FM on Tuesday.

“It’s not designed to focus on so much on bringing short-term jobs to Arizona. It’s focused on creating permanent jobs in Arizona.”

Acacia Filmed Entertainment announced plans Monday to build its Arizona Studio Complex in Scottsdale to take advantage of the incentives.

Plans for the project call for a 624,000-square-feet campus with 14 soundstages built in two phases on 70 acres of land.

Acacia is led by Matthew George, co-president of Castle Rock Entertainment, Rob Reiner’s production company.

“With strong consumer demand for quality original content, the need for studio soundstage space has increased and global studios are looking for financial incentives to support this ever-growing production pressure,” George, whose production credits include “Wind River” and “LBJ,” said in a press release.

“Acacia’s Arizona Studio Complex will deliver a world-class facility tailored to the highly specialized needs of top filmmakers coupled with competitive tax breaks to ease the burden of big budget productions.”

Another project, the Desert Studios Complex, is aiming break ground in Buckeye early next year, according to Variety, with 16 sound stages in the first phase and the potential to expand to 64.

KTAR News 92.3 FM’s Brandon King contributed to this report.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Phoenix experienced its first 100-degree day of the year on April 21, 2024. The daily average tempe...

KTAR.com

Phoenix records first 100-degree day of 2024

After a wet and cool start to the year, Phoenix experienced its first 100-degree day of the year on Sunday.

29 minutes ago

Carlos Rivas is among the performers for this year's Scottsdale Jazz Festival. (Scottsdale Jazz Fes...

Damon Allred

Sounds of New Orleans hit Old Town for Scottsdale Jazz Festival

The jazz festival billed as "Arizona's Most Beautiful Jazz Event" is coming to the Scottsdale Civic Center in Old Town this week.

2 hours ago

Olivia Gerits (Chandler Police Department)...

KTAR.com

Missing 13-year-old Chandler girl found safe, 21-year-old man detained

A 13-year-old girl who was missing for more than a week was found safe and reunited with her family on Sunday afternoon.

4 hours ago

woman holds money and types into computer...

KTAR.com

Weekend wrap-up: Here are the biggest Phoenix news stories from April 19-21

From freeway construction to street gang indictments, here are the biggest Valley news stories from over the weekend.

4 hours ago

University of Arizona President Robert Robbins is seen walking on the Tucson campus....

Associated Press

Robbins: Fiscal year 2025 UArizona budget deficit may be reduced by $110M

Outgoing University of Arizona president Robbins has announced “encouraging news” about the college’s finances.

6 hours ago

Two-time double lung transplant recipient, Teri Raymond, along with Dr. Ross Bremner hiking Camelba...

KTAR.com

Two-time double lung transplant recipient hikes for St. Joseph’s Norton Thoracic Institute

A two-time double lung transplant recipient, her son and surgeons hiked Camelback Mountain to raise funds to support lung transplants.

8 hours ago

Sponsored Articles

...

Collins Comfort Masters

Here’s 1 way to ensure your family is drinking safe water

Water is maybe one of the most important resources in our lives, and especially if you have kids, you want them to have access to safe water.

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

New state tax incentives lure big movie studio projects to Phoenix area