Wow, the first update since January: I have been busy! To summarize this news...
Who: "The Effingham County Industrial Development Authority unanimously approved an agreement Tuesday with Medient Studios Inc. for a $90 million movie studio and entertainment facility..." writes G.G. Rigsby in the Savannah Morning News.
What: The Effingham County IDA approved a Memorandum of Understanding with Medient. The memorandum is a legal document, but not as fully binding as a contract. As I understand it, this deal is creeping toward the finish line, but not yet "a done deal." I don't think any of us has forgotten the Daimler-Chrysler Sprinter van plant drama back in 2002-2003 which was presumed to be a sure thing.
When: WTOC reports that "Medient Studios has plans to open as early as next year."
Where:
How much: "The $90 million figure includes $10 million for land, $40 million for equipment and $40 million for buildings. An investment of $90 million and 1,000 jobs are the performance goals called for in the memorandum of understanding. Kumaran said he expects more than 1,200 jobs to be created eventually" writes G.G. Rigsby in the Savannah Morning News.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
Who: "The Effingham County Industrial Development Authority unanimously approved an agreement Tuesday with Medient Studios Inc. for a $90 million movie studio and entertainment facility..." writes G.G. Rigsby in the Savannah Morning News.
What: The Effingham County IDA approved a Memorandum of Understanding with Medient. The memorandum is a legal document, but not as fully binding as a contract. As I understand it, this deal is creeping toward the finish line, but not yet "a done deal." I don't think any of us has forgotten the Daimler-Chrysler Sprinter van plant drama back in 2002-2003 which was presumed to be a sure thing.
When: WTOC reports that "Medient Studios has plans to open as early as next year."
Where:
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| Picture courtesy of Effingham County IDA. Click to Enlarge |
How much: "The $90 million figure includes $10 million for land, $40 million for equipment and $40 million for buildings. An investment of $90 million and 1,000 jobs are the performance goals called for in the memorandum of understanding. Kumaran said he expects more than 1,200 jobs to be created eventually" writes G.G. Rigsby in the Savannah Morning News.
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
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