Yes, PRODUCING is a Scrabble word!

Letter values in Scrabble US: P 3, R 1, O 1, D 2, U 1, C 3, I 1, N 1, G 2.

Is it a valid word?

PRODUCING is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

bring forth or yield
create or manufacture a man-made product
cause to happen, occur or exist
bring out for display
cultivate by growing, often involving improvements by means of agricultural techniques
bring onto the market or release
come to have or undergo a change of (physical features and attributes)

Also: bring forth, bring about, give rise, bring on, bring out.