Las Vegas Film market is booming
The Las Vegas film industry is booming, and it's easy to see why. With new tax incentives, the construction of two large studios, and a thriving creative community, the Entertainment Capital of the World is becoming a hub for film and television production.In 2013, Nevada introduced film tax incentives, offering a refundable tax credit of up to 19% for qualified film production expenses and an additional 5% for Nevada resident wages. Since then, the number of film permits issued in Nevada has increased by 400%, and the film industry has generated an estimated $450 million in economic activity in the state.The growth of the film industry has been fueled by the construction of two new studios, Studio at Sloan and a proposed studio in Summerlin. Studio at Sloan, a $68 million, 110-acre production facility, has already broken ground and is expected to include 10 sound stages, production offices, and support facilities. The proposed studio in Summerlin, a $150 million, 26-acre complex, is expected to break ground in the second quarter of 2023 and be completed by the end of 2024.These new studios and the state's film tax incentives have already begun to attract major productions. In addition to Netflix's "Bird Box" and Apple TV+'s "For All Mankind," the Netflix film "Mank" and the HBO series "Westworld" have also filmed in Nevada. The impact of this growth on the local economy is expected to be significant, with a single film production generating up to $15.8 million in economic activity in the state where it is produced.The growth of the film industry is also expected to create new job opportunities for local residents. The two new studios alone are projected to create over 1,000 jobs, both directly and indirectly. The increased filming activity will also create jobs for local businesses, such as caterers, hotels, and transportation companies.<br>Furthermore, the growth of the film industry in Las Vegas is expected to have a ripple effect on the local creative community. The presence of major studios and productions will attract more filmmakers, writers, and actors to the area, fostering a vibrant and diverse creative scene. This, in turn, will lead to the development of new and innovative content, further solidifying Las Vegas's reputation as a hub for entertainment and creativity.If you're looking to start or advance your career in the film industry, there's no better place to be than Las Vegas. The city is home to the National Association of Broadcasters (NAB) Show, one of the largest media and entertainment trade shows in the world. The show brings together professionals from the broadcast, film, and entertainment industries, offering a platform for networking, learning, and discovering the latest technologies and trends.Commonwealth Productions, a full-service video production company based in Las Vegas, is a testament to the potential of the city's film industry. The company has produced content for a wide range of clients, from local businesses to national brands, and has been recognized for its creativity and innovation.In conclusion, the Las Vegas film industry is on the verge of a significant boom, driven by new tax incentives and the construction of two large studios. This growth is expected to bring new jobs, economic development, and a surge of creativity to the Entertainment Capital of the World. As the film industry continues to grow, so too will the opportunities for local residents, businesses, and the broader creative community.<br>References:<br>* <https://news3lv.com/news/local/renderings-showcase-proposed-film-studios-for-southwest-las-vegas-summerlin>* <https://variety.com/2023/artisans/focus/las-vegas-soundstages-nevada-incentives-1235776880/>* <https://www.fox5vegas.com/2023/06/01/one-step-closer-movie-studios-being-built-southern-nevada/>* <https://www.commonwealthproductions.com/>