Hollywood actor Mark Wahlberg has expressed his desire for the city renowned for casinos and entertainment, Las Vegas, to blossom into a new hub for the film industry.
Lobbying for Growth in Film Production
On a recent Wednesday, Wahlberg approached Nevada authorities, lobbying for the passage of a law aimed at invigorating film production in Las Vegas.
He expressed his enthusiasm for the city's potential in an interview with CNBC outside the Nevada Legislature. "I would love to see us building studios, creating jobs, and just diversifying the economy," Wahlberg said. The actor has already demonstrated his commitment to this vision, revealing, "I've moved my last film here.
I'm shooting another film here coming up in the summertime." Wahlberg believes there's a wellspring of untapped opportunity in Las Vegas, offering immense potential for growth and prosperity. He emphasized, "I think there’s so much more opportunity to be created here.
There’s so much growth and so much potential, it’s a wonderful opportunity for everybody to prosper."
Potential Boost in Film Production Tax Credits
In line with Wahlberg's appeal, Nevada lawmakers will consider a bill designed to bolster the local film industry.
If approved, this legislation would see the film production tax credit skyrocket from its current $10 million to an impressive $190 million annually for the next two decades. This exponential increase could transform Las Vegas into an attractive destination for filmmakers, with substantial financial incentives beckoning.
"Our employees and the future of Summerlin are inextricably linked with the Nevada economy," said Howard Hughes CEO David O’Reilly. He underscored the mutual benefits this move would bring, stating, "If we can strengthen, diversify and grow by bringing the film industry here, that will benefit all of us."
Pledges of Significant Investment
Several major players in the entertainment industry have rallied in support of Wahlberg's proposition.
Sony Pictures Entertainment CEO Tony Vinciquerra joined the lobbying efforts, appearing before Nevada lawmakers. He committed that Sony Pictures would contribute an enormous one billion dollars towards the venture, contingent on the law's adoption.
Should the new law pass, these significant pledges indicate the readiness of industry giants to invest in the city. This could represent a pivotal moment for Las Vegas, marking its transition from a gambling hotspot to a thriving epicenter of film production.
With such substantial backing, the future of the Las Vegas film industry appears brighter than the city's famed neon lights.
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