State House News Service
November 11, 2009
Senate President Therese Murray said the cancellation of a $550 million loan that
leaves the future of a planned movie studio complex in her hometown
“disappointing” Wednesday, but sounded a note of optimism that the project would
draw new financing.
“There is still wide-ranging support and expectation for this project,” Murray said in
a statement, a day after learning that Plymouth Rock Studios had nixed its deal
with Prosperity International. Studio officials said they were looking for new
financial backers, but said a timetable, which had called for groundbreaking early
next year, was uncertain.
“Like any development project, it is a difficult process,” Murray said. “And it is up
to the studio now to go out and find other financing. With the possibility of the
economy improving, and the project’s ability to generate short-term and long-term
jobs, the community remains hopeful that there are other lenders who will see the
great value of this project.”
November 11, 2009
Senate President Therese Murray said the cancellation of a $550 million loan that
leaves the future of a planned movie studio complex in her hometown
“disappointing” Wednesday, but sounded a note of optimism that the project would
draw new financing.
“There is still wide-ranging support and expectation for this project,” Murray said in
a statement, a day after learning that Plymouth Rock Studios had nixed its deal
with Prosperity International. Studio officials said they were looking for new
financial backers, but said a timetable, which had called for groundbreaking early
next year, was uncertain.
“Like any development project, it is a difficult process,” Murray said. “And it is up
to the studio now to go out and find other financing. With the possibility of the
economy improving, and the project’s ability to generate short-term and long-term
jobs, the community remains hopeful that there are other lenders who will see the
great value of this project.”
 |  |  |
Senate Prez Calls Studio Troubles "Disapointing"
Reiterates Support
by Roland Hansen
Reiterates Support
by Roland Hansen
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