Illinois officials hope tax credits will bring more film productions to the Metro East.
The state broke its own records for film spending at $703 million and supported an estimated 18,000 industry jobs after the legislature passed a film production tax credit last year.
The program is among the highest paying in the country, with a 35% uncapped base credit and up to 30% in bonus credits. The law is scheduled for review in 2039.
At the groundbreaking at Hollywood River Studios on Monday, Gov. JB Pritzker said he believes the project will attract union jobs to the region and bring money to local businesses.
"They plan to hire hundreds of permanent jobs once the project is fully built out and hundreds more in production and construction jobs as this campus is developed," Pritzker said. "That means more people working in the entertainment industry without having to leave this region to find other opportunities."
Among those taking advantage is Hollywood River Studios, a new film production company under construction in Madison County. The studio hopes to start production next summer, bringing an estimated 300 to 500 jobs to the region upon completion.
The company is eligible for tax credits totaling 45% of production costs, including an extra 5% each for filming in downstate Illinois and following "certified green production" guidelines.
Developer Christopher Breakwell said he chose Illinois to take advantage of its credits.
"(The) reason we're here is because of the governor and his foresight, and the economic development team for putting a film tax credit in place that really is tops in the nation," Breakwell said at a groundbreaking Monday. "We want a facility that helps nurture, incubate, and develop the film business. And I think that will be here with everything we're doing."
Hollywood River Studios plans to spend an estimated $62 million to build up to six studios totaling 140,000 square feet when completed. The complex will include four 21,000-square-foot studios mostly used for television shows, a 40,000-square-foot studio for filming movies and a 10,000-square-foot facility for esports.
Breakwell paid the City of Wood River $1 million for the property, and the city has agreed to return $100,000 for each completed building.
The company is working with Brussels-based construction firm Spantech on the construction project.
Spantech CEO Derek de Villenfagne said Monday that the studio construction will include state-of-the-art modular buildings that are "100% relocatable without any waste and any losses."
The studio will also rent a 50,000-square-foot facility in Granite City to house equipment and trucks for location shoots across the river.
Production that takes place in Missouri is eligible for the state's 20% base credit, which can reach 42% with bonus credits with an annual cap of $8 million per project.
Breakwell said it's a step toward attracting film production back to the United States as studios opt to film in Europe and Canada. The former St. Louis banker also said the studio will welcome projects like "DTF St. Louis" and "Ozark," which were both filmed in and around Atlanta.
"With the infrastructure we're about to build, this will be a destination in the state of Illinois for films from Paramount, Amazon, Netflix and even the smaller independent producers," Breakwell said Monday.
Before eyeing the Metro East, Breakwell founded 31st Street Studios in Pittsburgh in 2011. The Pennsylvania studio has worked on more than 40 projects, including Netflix's "Mindhunter," "The Fault in Our Stars" and "The Dark Knight Rises."
Capitol News Illinois reported that the studio fell into disrepair due to alleged water leaks after Breakwell's Gateway Entertainment Studios, which owned 31st Street Studios, filed for bankruptcy in 2016.
Breakwell reportedly paid $147,000 to the City of Pittsburgh and $9,400 to Allegheny County for the damage before selling the studio for $14 million in 2017.
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