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News regarding New Vegas Immersive District, Formula 1 Las Vegas Grand Prix & Warner Bros. Discovery -

Las Vegas City Council approves new tourism district focused on immersive experiences


By FOX5 Staff

Published: Aug. 21, 2024 at 6:10 PM PDT|Updated: 16 hours ago

LAS VEGAS, Nev. (FOX5) - Wednesday, the Las Vegas City Council approved a new tourism improvement district with a spooky theme.

It’s expected to bring millions of dollars to the city and is planned near AREA15.

The New Vegas Immersive District is expected to take about 35.5 acres.

The city’s director of economic and urban development, Dina Babsky, says the new project will include a new 200-room hotel and a 100,000 square-foot immersive horror experience.

The experience is in collaboration with Universal Parks and Resort and is set to open by Halloween next year.

By 2037, when the project is expected to operate at full capacity, Babsky said there could be 6.9 million visitors, over 4,000 jobs created and $384 million in increased earnings.

585 multi-family housing units could also come with the project as well as 320,000 square-feet of office space.

Copyright 2024 KVVU. All rights reserved.

New website shows all F1-related construction impacts for this year's Las Vegas Grand Prix

By: Ryan Ketcham

Posted 11:21 AM, Aug 20, 2024

LAS VEGAS (KTNV) — The Formula 1 Las Vegas Grand Prix released a new website this week breaking down every F1-related construction project that could impact your drive the next four months.

The website shows how construction will impact Las Vegas Boulevard, Harmon Avenue, Koval Lane and Sands Avenue, plus around Grand Prix Plaza and Sphere.

It breaks down the construction week by week, detailing the construction with an interactive map and written list of days and times to expect closures.

Formula 1 officials tell Channel 13 the majority of the impact should only result in overnight lane closures.

I showed this website to Las Vegas bus driver Antoinette Avery-Smith. I asked her how she felt about having this website and if she thinks it will help.

"I’m hoping so. Anything would be an improvement right now," Avery-Smith said.

Avery-Smith says navigating last year's F1 construction was a mess.

"I do paratransit for the elderly and the disabled. It made it harder to get to them on time," Avery-Smith said.

No matter how you make your way around the track path, F1 officials say this site should help with navigating this year's construction impacts. You can toggle between different viewpoints depending whether you're in a car or walking. It also includes RTC transit routes.

You can use the website on your phone or computer in English or Spanish. It shows all construction projects that could impact roads around the Strip from Sept. 2 to Dec. 24.

“It’s also interactive; you can hover over a specific area on the map and see if there’s any action going on," said Lori Nelson-Kraft, senior vice president of corporate affairs for the F1 Las Vegas Grand Prix.

F1 officials tell me this site will constantly update with any and all changes to F1 construction this year.

Formula 1 is also re-introducing the construction text update system this year. Nelson-Kraft tells me everyone who signed up last year will receive a text this week to ask if they want updates for this year's race impacts.

If you have not signed up, you can do so by texting "F1LVGP" to 31996.

Copyright 2024 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Warner Bros. Discovery partners with UNLV to lease, operate Las Vegas film studio

By: Jarah Wright

Posted 1:28 PM, Aug 20, 2024

and last updated 2:58 PM, Aug 20, 2024

LAS VEGAS (KTNV) — Another film studio is getting ready to plant their flag in the Las Vegas area.

On Tuesday, Warner Bros. Discovery announced they are partnering with UNLV and Birtcher Development through a long-term commitment to lease, operate and fully occupy Nevada Studios, which will be located at UNLV Harry Reid Research & Technology Park. That's located near the 215 and Durango Drive.

According to a press release, Nevada Studios will be renamed "Warner Bros. Studios Nevada", and feature full-service film and television studios and other facilities "designed to capitalize on emerging technologies related to WBD's content creation."

The video player is currently playing an ad.

The 34-acre campus will also feature the Nevada Media and Technology Lab, which will have opportunities for the UNLV film department and other academic departments at the university. That includes space to support vocational training, internships, and research and workforce development opportunities for both K-12 and higher education partners throughout Nevada.

"In addition to our best-in-class studios in Burbank, CA and Leavesden, UK, Warner Bros. Studios Nevada represents a great opportunity to further expand our facilities to accommodate these productions and more in the future," said Simon Robinson, Chief Operating Officer of Warner Bros. Studios. "We are fully committed and excited about the potential of a long-term partnership and presence in Nevada and are confident it will be a win/win for the State of Nevada, the Las Vegas community and WBD as we look ahead to our next 100 years of exceptional storytelling."

Sony Pictures could also be coming to the valley with a studio project in the Summerlin area, which is backed by Howard Hughes Holdings.

Howard Hughes CEO David O'Reilly said the project will bring 10,000 high-paying jobs to the valley.

Both projects have received support from Hollywood A-listers like Mark Wahlberg and Jeremy Renner.

"There are tons of talented people here but also, to attract new people you have to make sure that there is a guarantee you work for X amount of time and [the state] wants to make sure that if they're giving up the tax credit that people are going to come," Wahlberg previously said. "I think they're very excited to create a new industry outside of gaming."

Those projects are still pending while state lawmakers consider the Nevada Film Studio Infrastructure Act.

While a 2023 version of the bill stalled during the last session, Nevada Senator Roberta Lange is looking to bring back a revised version for the 2025 Legislative Session.

"When talking with citizens, we hear repeatedly that we need to further diversify our southern Nevada economy and at the same time, commit the resources to develop our workforce. These are top priorities for us all, and I can proudly say my legislation accomplishes both," Lange said. "Previously, it was twice as much investment by the state. And so, we have put it to a more manageable number that I think the state could afford."

Current Nevada law caps tax credits at $6 million per production and limits the state from providing more than $10 million in tax credits for all film productions annually.

The 2023 version of the bill planned to offer up to $190 million in annual film tax credits but the 2025 version of the bill would lower that amount to $95 million a year, according to Lange.

Copyright 2024 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Sept 6th UPDATE: From Investopedia, Originally From CNBC