A film and “teaching studio” complex in a former General Motors truck and bus manufacturing facility in Pontiac should be up and running early next year, said Linden Nelson, chairman and CEO of Michigan Motion Picture Studios LLC. At 5 p.m. today, Gov. Jennifer Granholm and others will participate in a ceremonial groundbreaking at Centerpoint Parkway, but work already has begun on the site to convert the defunct plant into Raleigh Michigan Studios. From The Detroit News
Movie studio is a go for Pontiac
Louis Aguilar/Detroit News
Michigan Motion Picture Studios L.L.C. film studio got final approval for $28 million in bond financing, the last hurdle to build a major film complex at General Motors Co. Centerpoint BusinessCampus in Pontiac.
The board of the Oakland County Economic Development Corp. gave final approval this morning of the bond.
By DONNA PAUL
Published: September 8, 2009
DETROIT — In the midst of a recession that has been particularly brutal in Michigan, a number of construction projects are on the verge of getting under way in a most unlikely business: the film industry.
The recent surge of interest was set in motion in April 2008, when Gov. Jennifer M. Granholm signed a 14-bill package into law, which among other things provided a 40 percent tax credit or cash rebate for studios on their business tax returns in Michigan. An additional 2 percent rebate is available for films produced in 103 communities.
There is also a 25 percent infrastructure credit, which is applied against expenditures on construction of a studio and its contents, said Janet Lockwood, director of the Michigan film office.
Raleigh Michigan Studios – the Pontiac studio financed by A. Alfred Taubman, Linden Nelson, John Rakolta Jr. and William Morris Endeavor – Ari Emanuel has arranged the $75.8 Million required to break ground in 30 days on ten soundstages to be ready for summer 2010 according to Steve Lemberg, CFO of RMS. Meanwhile Jimmy Lifton’s Unity Studios in Allen Park while delayed from its June groundbreaking continues toward the October opening of The Lifton Institute and the initiation of the bond issue needed to fund the land purchase. Wonderstruck Studios, which was formerly announced to take shape at the temporary MGM Grand facility may be considering another location.
Full Article from the Detroit Free Press Katherine Yung:
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[Editors Note: Raleigh Michigan Studios is the new name of the studio now according to CEO Linden Nelson]
Motown Motion Pictures Studios (Raleigh Michigan Studios) closed land purchase agreements and welcomed Governor Jennifer Granholm and members of President Obama’s Auto Industry Task Force to tour the facility. In the works is a major Sound Stage film production facility with educational training programs with a goal to employ 3,500 Michigan residents with expansion to 15,000 in coming years. A partnership between Nelson Ventures, The Taubman Group, and William Morris Endeavor’s Ari Emanuel. Ari spoke at the Mackinac Policy Institute recently to discuss Michigan and the importance of the auto industry to entertainment and his plans for the studio: