PONTIAC, MI-Michigan Motion Pictures Studios LLC has beenpromised local government assistance to build a $60 million filmstudio here at the Centerpoint Business Campus. The Oakland CountyEconomic Development Corp., a public-private entity, has authorizedthe issuance of $28 million worth of tax-exempt bonds to financethe Raleigh Michigan Studios.

With the funds, the company will renovate a 425,000-square-footexisting office building formerly used by General Motors. Thecompany will also build a 185,000-square-foot studio. The projectshould be complete by January, according to a statement by thecounty.

The funds will help add to the emerging film industry inMichigan, according to county executive L. Brooks Patterson. "Suchgrowth depends on the ability of the industry to build studios suchas this," he said in a statement. Patterson appoints local bankers,real estate developers, lawyers and other members of the communityto the economic development entity, which then has the authority toissue bonds.