The footage claiming to be from 1997 was shot on modern digital cameras in HD. To simulate the look of lo-fi analog footage, after the special effects were added in, the footage was copied to actual VHS tapes which were then re-digitized to finish editing. The analog defects are therefore real and not simulated. This had the added benefit of making the computer effects look more integrated with the original footage.
Based on the "Phoenix Lights" of Phoenix, Arizona, an UFO's sighting witnessed by thousands on Thursday March, 13 1997 that it was filmed, turning in a global news in entire world.
Even though the UFO sighting this film is based on is most famously known as the "Phoenix Lights" there were also sightings of the same lights in parts of Nevada, other parts of Arizona, and even some parts of Northern Mexico on March 13, 1997.
In Josh's childhood room, there's a poster of an alien from the Alien franchise. Producer of the film, Ridley Scott, directed the original Alien and several other films in the series.
The "Phoenix Lights" UFO sighting is the most famous UFO sighting in the world and was witnessed by thousands.