Connecticut’s Hollywood dreams are coming closer to a reality.
The developers of the state’s first major film studio in South Windsor have completed a site plan for the project, and are prepared to begin construction as early as June, pending approval from the town, developers said.
The plans for Connecticut Studios call for eight sound stages of approximately 20,000 square feet each, a 75,000 square-foot mill building, and 104,000 feet of production and executive offices. A 30,000 square-foot digital media/post production facility will also be erected as part of the project.
The owners of CT Studios are negotiating with production companies to occupy the sound stages by the end of 2010, developers said.
Signs signaling the coming construction were also recently erected along Interstate 291.
The studio is being developed through a partnership of Rhode Island developers, Halden Acquisition Group and California’s Pacifica Ventures, the owners of New Mexico’s Albuquerque Studios.
“We are completing the last steps in assembling our financing and are now able tofinalize our incentives with the federal, state and town representatives” said Pacifica Ventures partner Hal Katersky.
The state has presented the studio developers with an incentive package consisting of loans, tax credits and other incentives to build the studios and create as many as 5,000 new jobs. South Windsor has offered to pledge tax increases to offset the cost of new roads, utilities and storm drainage.
An economic impact study recently conducted by the Connecticut Economic Resource Center, of Rocky Hill found that the project will create more than 6,000 construction and permanent jobs. Estimates place the overall economic impact to Connecticut at more than $750 million annually.
South Windsor economic developer Craig Stevenson said he expects the planning and zoning commission to schedule a public hearing on the studio plan for March 23 and final approval could be considered as early as April 6.
