Construction of New England Studios, a film and television production complex, is under way in Devens.
At a groundbreaking ceremony this week, state officials said the facility – suitable for films, television programs and commercials — will be built on Lot 13, with an expansion opportunity on Lot 14, creating a 15-acre signature site along Jackson Road, the main access road in Devens. The project responds to the demand for Massachusetts-based production facilities following the introduction of the Massachusetts film tax credit, Lt. Gov. Timothy Murray said.
“The film industry is part of Massachusetts’s creative economy and we need to make strategic investments to support job opportunities and growth within the industry,” he said. “By partnering with MassDevelopment, New England Studios is moving forward with a state-of-the-art facility that will create permanent jobs in Massachusetts and also attract production companies looking to do business in the commonwealth.”
The studios will include four 18,000-square-foot Hollywood-style sound stages, production support offices, a mill, storage building, and sound stage support areas for a total of 126,000 square feet at a cost of more than $30 million. The project will take a year to construct and generate 100 to 150 construction jobs.
After completion, approximately 30 full-time employees will be on-board with another 250-300 production jobs from the various production companies renting the studios, the company said.
New England Studios is owned by a small group of private Massachusetts real estate developers and equity investors.
“It has been my dream and passion for the past six years to fill the need for a film studio in Massachusetts,” Chris Byers, New England Studios’ director of studio operations, said in a statement. “Our goal is to create a world-class home for the film industry.”
“We’re pleased New England Studios has shovels in the ground, ready to turn this site into the next economic engine in Devens,” said Marty Jones, president and CEO of MassDevelopment, the state’s finance and development agency. “MassDevelopment is pleased that this Devens facility will help bring and sustain good film and TV jobs in the Commonwealth.”
In July 2011, the MassDevelopment board of directors authorized a tax increment financing (TIF) agreement that will reduce the company’s local property tax on the improvements that it makes. The TIF will be applied proportionately to each phase of the project based upon the taxable value of each phase. The TIF will reduce the estimated taxes due over 20 years by slightly more than 20 percent.
