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What do you think of Hopkinton, RI's growth? So much happening in this little historical town, are we ready?

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Real Estate Agent with Re/Max South County

 

 

 

 


$100-million movie studio proposed in Hopkinton Exit 2

February 7, 2008

PROVIDENCE, R.I. --A California-based movie studio developer released plans Thursday to build a $100 million studio and hotel development in Hopkinton.  Hal Katersky, a director of Santa Monica-based Pacifica Ventures, said the deal is contingent on the General Assembly passing legislation that would give the company tax breaks equal to 20 percent of constructions costs.

The state is currently facing a budget deficit estimated at up to $561 million, but the project has the support of legislative leaders including House Speaker William J. Murphy and Senate President Joseph A. Montalbano.

If the project goes forward, it would create 500 construction jobs, then generate thousands of movie production jobs.

"Studios are good businesses. They're clean businesses," said Katersky, a native of Tiverton and graduate of the University of Rhode Island. "They come, they spend, and then they leave."

Since passing a generous movie tax credit package in 2005, Rhode Island has drawn several movie and TV productions to film here, including the Showtime series "Brotherhood" and the movies "27 Dresses" and "Dan in Real Life."

"Having this movie studio here is really going to solidify everything that we've worked on," said Steve Feinberg, executive director of the Rhode Island Film and Television Office.

State Sen. Brian Patrick Kennedy said the project represents about one-tenth of Hopkinton's tax base.

On the Net:

http://www.pacificaventures.com/ 

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