Joint Venture Invests $40 Million In Movie and Television Production Facility In South Salt Lake City Utah
The joint venture will include renovating historic buildings on the campus, and constructing 90,000 square feet of sound stages, office and retail space. The joint venture purchased the property for $8.45 million, and will invest up to $6 million in restoring existing buildings, and another $25 million to construct future sound stages, office space, restaurants, and retail buildings. Clean-up and renovation will begin immediately and major construction will begin in 2013, local economic development officials said.
South Salt Lake Mayor Cherie Wood said the project will be an economic stimulus to the city and the state, while retaining the classic character of the campus that has already been used for movie sets. The investment in the buildings and site will establish a national reputation for South Salt Lake as a film-friendly city, the mayor added. Up to 1,000 jobs, including full, part-time, seasonal and temporary employment could be created over the course of the development and implementation of the project.
"This is a one-of-a-kind project of statewide economic importance that celebrates the historic value, quality, and size of the campus and our neighborhood. It was conceived with the same strength, purpose, and intention on which the school was founded. As a Granite Alumna and lifelong South Salt Lake resident, I knew there was a way to regain the glory of this campus, and I am so glad we have finally found it," Wood added.
South Salt Lake Economic Development Director, Randy Sant, helped change State Law to allow a city to purchase surplus properties for economic development purposes, not strictly for community facilities. This legislation allowed the city to carry out its commitment to find the best possible new use for the campus.
In addition the Utah Motion Picture Incentive Program helped the Woodbury-Redman partnership solidify their business plan by offering an up to 25 percent post performance incentive to motion picture and television production company's interested in filming in Utah.
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