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Colorado on Friday approved a $5 million incentive package to lure production of the upcoming Quentin Tarantino film "The Hateful Eight," edging out a bid from Utah among others.

The Oscar-winning screenwriter's movie could be filmed on a 900-acre ranch west of the ski town of Telluride, depending on local permit approval, The Denver Post reported (http://dpo.st/1utJtW5 ).

Colorado's incentives, approved by the state Economic Development Commission, beat out those of Utah and Wyoming. Budgeted at $44 million, the film would be the most significant production in Colorado since 1969's "True Grit." The John Wayne classic was filmed in rural western Colorado.

"The Hateful Eight," which is slated for a 2015 release, tells the story of post-Civil War bounty hunters who try to find shelter during a blizzard but get entangled in a plot of betrayal and deception, according to IMDB.com. The website lists Kurt Russell, Samuel L. Jackson and Amber Tamblyn among the film's stars.

Details of "The Hateful Eight" script were leaked in January, and Tarantino sued news and gossip website Gawker after it posted a link to the script. The case was dismissed in April, and the plot was later retooled.

The newspaper reports that Colorado's incentive package would use the rest of the year's incentive budget, plus some from the 2015-16 budget year. After approval, state film commissioner Donald Zuckerman quickly signed off on paperwork so film spending could advance.

"The whole movie's going to be shot here, exteriors and interiors," Zuckerman said. "They're going to build it on a ranch."

The movie's budget in the state includes $15.7 million for payroll, including a 168-person crew, and $9.35 million in other spending, including lodging. The $5 million rebate makes up 20 percent of that spending.

Shooting was expected to kick off in early December at Schmid Ranch, a high-mesa ranch 10 miles west of Telluride that was homesteaded in 1882.