WBRZ - Baton Rouge

A Baton Rouge film studio project has won preliminary approval for $265 million in bonds.

The Louisiana Public Facilities Authority board gave preliminary approval to the Red Stick Studio Development LLC project this week.

The approval is the first in a four-step process.

Red Stick also has won judgments from two state courts allowing the company years to collect 40 percent studio infrastructure tax credits from the state on an eventual $665 million project.