UFC lands tax break for studio

Local talent in the film industry has been picking up, and companies like the Ultimate Fighting Championship have taken notice.

The Governor’s Office of Economic Development approved $705,581 in tax abatements for the Las Vegas-based company in return for more than $3.5 million in new tax revenue. The company said it is exploring the option to expand operations and relocate a California-based production facility to Southern Nevada.

The project would include construction of an events and production studio that would work on the upcoming Dana White’s Tuesday Night Contender Series, among other live content, and would include office space and editing suites. The proposal comes as UFC’S new media rights deal with ESPN approaches.

“With a new media rights … with ESPN, the demand for additional content is needed,” said Craig Borsari, UFC executive vice president of operations and production. “We’re looking to try and accomplish that here in Nevada.”

The company would create 30 jobs within the first year at an average wage of $37.12. Borsari said about two-thirds of those hires would be made locally.

Borsari, who has worked with UFC for 15 years, said he originally faced

UFC

difficulties finding local, specialized talent in production, but things have changed.

“The city has grown, and we’ve found we’re starting to find really talented specialized positions — at least in the production space — right here in Las Vegas,” he said. “We love Las Vegas, and we love Nevada. We hope that we can continue to expand here and help Las Vegas be the sports media capital of the world.”

Borsari said the company is prepared to start expansion efforts in the next few months.

Kylie Rowe, vice president of economic development for the Las Vegas Global Economic Alliance, said the company would make a capital investment of more than $7.9 million over the next year, with 98.6 percent of revenue coming from outside of Nevada.

And the move could help bring in more film companies, Rowe said.

It’s a “positive message to prospective companies that are looking to come here,” she said. “They know that there’s existing talent, that they can find talent” in Nevada.

In other action Thursday, the GOED approved more than $14.6 million in tax abatements for existing, expanding and new Nevada companies in return for more than $38 million in new tax revenue. Between $3.9 million and $12.3 million was awarded to existing, expanding and new companies in Southern Nevada, depending on whether an industrial gas company moves to Storey or Clark County.

Contact Bailey Schulz @bschulz@ reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.