Matthew George Gene Maddaus-Senior state Arizona Entertainment film Matthew George Gene Maddaus-Senior state Arizona

Arizona Film Studios to Break Ground Following Tax Incentive (EXCLUSIVE)

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variety.com

Gene Maddaus Senior Media WriterTwo Arizona studio projects are preparing to break ground next year, now that the state has approved a $125 million incentive for film and TV production.Acacia Filmed Entertainment unveiled its plans Monday to build 14 soundstages on a 70-acre site in the Scottsdale area.

The other project, Desert Studios Complex, is slated to be built in Buckeye, in the Southwest Valley.Both projects were intimately involved in designing and lobbying for the state’s new tax credit, which is targeted to incentivize construction of new soundstage facilities.“We basically helped craft this bill so we could help protect the ability to finance the studio,” said Matthew George, president of Acacia Filmed Entertainment. “It’s a little different than other rebates.

This is centered around the ability to build those studios.” The new credit will launch in 2023 with a cap of $75 million, ramping up to $125 million in 2025.

In order to qualify, productions must either film on a soundstage of at least 10,000 square feet, or — if the production relies on location shoots — do all post-production at a “qualified production facility” in the state.But the state has relatively little in the way of filming infrastructure.“This bill is designed to attract people to build those facilities,” said Randy Murray, a board member of the Arizona Film and Digital Media Coalition.Acacia plans to break ground next year, with construction expected to take about 18 months.

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