#Stock in movie production companies plus

#Stock in movie production companies plus

O'Reilly noted that if Sony gets the tax incentives it's hoping for, the promised investment will bring an estimated 16,000 jobs to the region, with most of them unionized, plus as many as 10,000 construction jobs. they would have to spend $633 million filming and creating economic development for this whole valley.' 'For a company to earn $190 million tax credit. 'That money is only earned if money is spent here,' O'Reilly told CNBC. The credits would be transferrable, meaning they could be sold to other companies. Once those studios are up and running, production companies could apply for tax credits which would make up 30% of production and construction costs for films, up from the current level of 15%. That studio would sit on the University of Nevada Las Vegas technology park, which would also include educational facilities for job training in the film industry. The proposed bill would clear the path for development of two movie studio sites: Howard Hughes' location in Summerlin and another by Birtcher called Las Vegas Media Campus. 'If we can strengthen, diversify and grow by bringing the film industry here, that will benefit all of us.' 'Our employees and the future of Summerlin are inextricably linked with the Nevada economy,' O'Reilly said. The company has promised to invest $700 million to build a movie studio campus in the Summerlin, a community in southern Nevada, if the bill passes. Howard Hughes CEO David O'Reilly also spoke in support of the incentives, appearing before legislators in person Wednesday. The electronics giant has committed to spend $1 billion on film production in Nevada over a decade, but only if the tax incentive package, known as the Nevada Film Studio Infrastructure Act, passes. Sony Pictures CEO Tony Vinciquerra appeared virtually before state legislators Wednesday to lobby for the passage. Roberta Lange, a Democrat in Las Vegas, who is sponsoring the legislation alongside Birtcher Development, Sony Pictures Entertainment and Howard Hughes Corp. It provides sustainability for jobs,' said state Sen. ' something that's sustainable, and it goes long term into the future. Proponents of the bill point to Georgia's tax incentives, which have helped double the state's film industry jobs since 2011. There's so much growth and so much potential, it's a wonderful opportunity for everybody to prosper,' Wahlberg said. 'I think there's so much more opportunity to be created here.

Nevada state lawmakers are set to vote on a bill that would increase tax credits for film production from $10 million to a whopping $190 million annually over the next 20 years. I'm shooting another film here coming up in the summertime.' 'I would love to see us building studios, creating jobs and just diversifying the economy,' Wahlberg told CNBC in an interview outside the Nevada Legislature. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit