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February 12 – February 19, 2009 Edition
To Replace GM
PONTIAC, MI/Authorlink News/02/09/09–A $54 million film studio and production facility will replace the old General Motors truck plant in Pontiac, Michigan, according to the Detroit Free Press.
Michigan Governor Jennifer Grandholm announced Tuesday in her State of the State address that Motown Motion Picture Studios will open on the plant site, creating about 3500 jobs.
Michigan has become more attractive to moviemakers since new tax incentives became effective last year. According to the website ShowbizManagementAdvisors.com, the state isn’t contributing cash to the
facility’s construction. But it is offering $15 million in film-related tax credits, plus as much as $101 million in state tax credits over 12 years, if hiring goals are met.
Michigan’s efforts to lure film production have shown mixed results so far, despite such aggressive incentives as a law signed last year that offers cash refunds of 40% or more to productions that spend more than $50,000 instate. Hollywood studios have moved some individual productions to the state, such as the Clint Eastwood hit “Gran Torino,” which Time Warner Inc.’s Warner Bros. shifted to the Detroit area from Minnesota to take advantage of the rebates. But few have established a permanent presence.
Linden Nelson is CEO of Motown and heads Nelson Ventures, a Michigan-based development firm and partner in the new studio. Other studio stakeholders include Pontiac native Alfred Taubman and Grand Sakwa Properties LLC. The Beverly Hills, Calif.-based talent agency Endeavor brokered the deal and will represent the studio.
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