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March 16, 2011

Camden's free land lures film studio co.

By The Mainebiz News Staff

The town of Camden's "free land for jobs" effort to attract a business to the former Apollo Tannery may have paid off.

The Camden Select Board yesterday voted to approve a purchase-and-sale agreement with Milwaukee, Wis.-based B'D'Turman'D Entertainment LLC, which would use the property to build sound stages for movies, according to the Herald Gazette. The $13 million project would create 25 permanent jobs and about 50 temporary, full-time jobs for each potential movie production. Company officials were drawn to the 3.5-acre property after Camden officials advertised it as free to a company that would create at least 24 year-round jobs that pay about $40,000 within five years of obtaining the property. If residents approve the agreement, B'D'Turman'D Entertainment would buy the property for $1, but would owe the town $175,000 if it did not create adequate jobs within five years, according to the paper.

The company is negotiating with banks, the Finance Authority of Maine and Coastal Enterprises Inc. for incentives and financing. A special town meeting for residents to vote on the agreement is scheduled in April, and a closing date is expected sometime before June 15.

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