Arizona State Tax Incentives Spurring Film Industry Growth
Setting The Stage
At Williams Luxury Homes, we recognize that Greater Phoenix is no longer simply a desert oasis. It is a thriving metropolis boasting a myriad of industries, from technology to entertainment. Recently, the state of Arizona implemented a tax incentive program to attract big studios. Below is the latest info in regards to the incentive as well as Desert Studios being built in Buckeye.
Arizona's Attraction For Studios
- $125 million tax incentive for film and TV productions
- A budding production complex, Desert Studios, under development
- A project cost estimated at $900 million
- 52 soundstages planned on a 320-acre site
The recently introduced tax incentive program for film and TV projects is one of the key factors driving the growth of the entertainment industry in Arizona. Desert Studios, a full-service studio development project in Buckeye, is testament to this. With plans for 52 soundstages spread over 320-acres, this $900 million project represents the future of film and television production in Arizona.
Also Read: White House Names Phoenix One Of Five US Workforce Hubs
Arizona Tax Incentives Are Luring Studios To Build In Greater Phoenix
Fostering A Competitive Environment
- A tax credit with a cap of $75 million, increasing to $125 million in 2025
- Requirement to film on a soundstage of at least 10,000 sq ft for qualification
Arizona's competitive edge in the film industry is solidified by its tax incentives. The current tax credit has a cap of $75 million, set to increase to $125 million by 2025. The stipulation that productions must film on a soundstage of at least 10,000 square feet further attracts significant industry projects to the area.
Facilities Tailored To Industry Needs
- 12 soundstages in the first phase, each dividable into two 20,000 sq ft stages
- Production offices, editing/post-production, equipment rental, set construction, craft services, catering buildings and backlots included
Desert Studios offers facilities tailored to industry needs, with the first phase of construction comprising 12 soundstages that can be divided into two 20,000 square foot stages each. Additional facilities include production offices, post-production and editing facilities, equipment rental, set construction, craft services, and catering buildings.
Also Read: Why Are Californians Moving To Arizona?
Williams Luxury Homes Is Currently In Production For An Upcoming TV Show
About Greater Phoenix
Greater Phoenix, often referred to as the Valley of the Sun, is the vast metropolitan area centering around Phoenix, Arizona. It's the heart of the Sonoran Desert. We see it as an oasis of opportunity, culture, and beauty. Known primarily for its stunning landscapes and sun-drenched climate, Greater Phoenix is also rapidly becoming a beacon for various industries, including technology and entertainment. Here are ten things you should know about Greater Phoenix:
- Sunshine Galore: Greater Phoenix boasts over 300 sunny days per year.
- Outdoor Adventures: Home to numerous parks and hiking trails.
- Cultural Hub: Rich in arts, music, and diverse culinary experiences.
- Sports Central: Host to all four major professional sports leagues.
- Education Excellence: Numerous top-ranked schools and universities.
- Thriving Industries: Technology, healthcare, and entertainment are key sectors.
- Population Growth: One of the fastest-growing regions in the U.S.
- Easy Connectivity: Extensive freeways and Sky Harbor International Airport.
- Breathtaking Landscapes: Majestic mountains and unique desert scenery.
- History-Rich: Indigenous cultures, old mining towns, and Spanish colonial influences.
Greater Phoenix is a blend of dynamic city living and awe-inspiring natural beauty. It's a region that thrives on diversity, innovation, and the enduring spirit of the American Southwest. Greater Phoenix is not only an excellent place to live, but also a region with exciting potential.
If You'd Like To Learn More About The Valley
The unfolding story of Greater Phoenix's growth in the entertainment industry is a clear indicator of the evolving appeal of this region. Williams Luxury Homes is here to navigate this dynamic landscape, ensuring our clients are not only acquiring luxury real estate but also investing in an area of expanding opportunities and promise. Contact us today to learn more about how we can help. Additionally, don't forget to keep checking back on LUXE BLOG. We consistently add solid info to help you make the right decision about buying/selling here.
