Massachusetts denies $50M for movie studio
PLYMOUTH — Officials with the company building a movie studio in Plymouth are vowing to forge ahead despite the state’s decision not to provide $50 million in bond money for infrastructure upgrades.
Bill Wynne, real estate manager for Plymouth Rock Studios, says the company is “disappointed and frustrated,” but that construction of the $500 million studio will start this summer regardless.
A spokeswomen for the state Executive Office for Administration and Finance tells The Boston Globe the money was denied because the project will not produce enough in tax revenue to cover the bond payments.
The facility, expected to open late next year, will include 14 sound stages, a 10-acre back lot, a theater, a 300-room hotel and an education center.