State and local officials announced yesterday a proposal for the construction of the state’s first film studio, on 60 acres in Hopkinton off Route 95’s Exit 2.

The venture, which would include a hotel and office space, would require a 20 percent state tax credit, said Hal Katersky, chairman of Pacifica Ventures, a development firm that deals primarily with the entertainment business.

State legislators plan to introduce legislation Tuesday that would create a new tax credit for motion picture studios — similar to the existing motion picture production tax credit, said House Speaker William J. Murphy at a news conference yesterday afternoon.

The proposal — which would grant Pacifica Ventures a nearly $15-million tax break — is yet to be reviewed by the House and Senate finance committees...

...“Needless to say, this is a very exciting opportunity for Hopkinton,” council President Vincenzo Cordone said, adding the project is expected to create jobs, increase the town’s tax base and shape “Hopkinton’s identity and prosperity.”...

Full Story: Dialogue starts on film studio plan Source: Providence Journal, February 8th, 2008 Author: Maria Armental Added on February 8th, 2008 at 10:04 am, by Judy He