They have been denied!!! Plymouth Rock Studios, the first all green production studio, was just turned down by the Patrick administration for $50 million.
A spokeswoman for the governor's office of administration and finance has said that the tax revenues generated by the studio project would not be enough to pay off the debt of $50 million in bonds the state would need to cover the renovation cost.
Senate President Therese Murray, a strong supporter of Plymouth Rock Studio, has said that she hopes other ways to help the production studio will be found. "Just like our emerging life science and biotech industry, this studio and the film industry are poised to be a great benefit to our area and the Commonwealth with an increase in jobs, improved infrastructure, and increased economic activity," Murray's statement said. "The Commonwealth has taken the first step in attracting these new industries; now we must work so that they meet their full economic potential."
When/if Plymouth Rock Studios gets full funding it will employ 1,500 construction workers to finish the haul over and up to 2,000 employees when the studio is in full operation. It is still slated to open in 2010 so hopefully soon we will hear about some funding to finish the world's first LEED-certified, environmentally friendly studio complex.
For more detailed information you can check out the article on the CommonWealth website
Tracey Shrier
said on July 09, 2009