Acacia Filmed Entertainment has signed a commercial development agreement to build a film studio and production training facility in the Valley, the company announced Monday.

Earlier this summer, Arizona Gov. Doug Ducey allowed a bill that proposed $125 million in tax incentives for TV and movie productions to become law and now film studios are trying to get a footing in Arizona before the incentives go into effect in 2023.

Acacia’s Arizona Studio Complex will include 14 sound stages and support offices across 624,000 square feet on 70 acres of land. It will also include a 30-acre backlot for further expansion. The current plans for the project call for a 60,000-square-foot stage, which would be one of the largest in the world.

To continue reading, click here.

By Brandon Brown, Reporter - Phoenix Business Journal