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.
[Editors Note: Raleigh Michigan Studios is the new name of the studio now according to CEO Linden Nelson]
Motown Motion Pictures Studios (Raleigh Studios Detroit) 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:
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