A large film company is negotiating to open a regional headquarters in Memphis and spend $250 million on productions over five years, according to Memphis Music Foundation president Rey Flemings.
He wouldn't identify the company, but such a move would be helped by recent film-related state legislation.
The legislation provides a rebate of 15 percent of in-state company production spending, if certain qualifications on the company and its spending are met.
Memphis and Shelby County Film & Television commissioner Linn Sitler said, "The relocation of a major film company would be phenomenal. This would take us from a level of looking to recruit pictures on an individual basis, to an unbelievable place where the company would be here turning out pictures one after another."
Film legislation also included a $10 million appropriation for incentives for movie and TV productions in the state.
Sitler said the film legislation was "the most important thing that our commission and I have ever been involved in." She said it was a team effort whose numerous members included the foundation and Memphis Mayor Willie Herenton's office.
Tuesday, June 13, 2006
Film company eyes Memphis
Here are excerpts from a June 8 story by David Williams in The Commercial Appeal:
Posted by Jon W. Sparks at 5:23 PM