Moving Hollywood to Coastal Georgia Could Mean Record Profits - WICU12 HD WSEE Erie, PA News, Sports, Weather, Events

Moving Hollywood to Coastal Georgia Could Mean Record Profits

Posted: Updated:

Information contained on this page is provided by NewsUSA, an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith.

(NewsUSA) - Due to soaring labor costs and a weak tax credit structure, more movie producers and studios are flocking east to produce feature films.

"Over the past several years, Hollywood has become very expensive to produce movies," says Jake Shapiro, CEO of Medient Studios. "In my opinion, Georgia will be the new Hollywood."

According to, in 2013 alone, television networks, Hollywood studios, production companies and independent producers invested more than $3.3 billion in the state's film industry.

One of the most ambitious film projects in the state, let alone the nation, is Medient Studios, a 12-year-old production company that has leased a 1,560 acre property in Effingham County, Georgia, to build a "Studioplex." Medient Studios (OTC: MDNT) is building what many consider to be the most ambitious public/private partnership to date -- the property is approximately the same size as Central Park and will be home to over 2 million square feet of sound stages and post-production facilities.

Leading the way is Medient Studios' newly appointed CEO Shapiro. As an honors graduate of Rutgers University, the financier was critical in negotiating the original public/private partnership with Georgia, and he has a long history of capital formation for small- and mid-cap-sized companies.

"We are in the process of building an intellectual property factory," says Shapiro. "A factory serves two primary purposes -- to increase production and reduce costs. The Medient Studioplex in Georgia is disruptive to conventional Hollywood wisdom, whereby there is little to no alignment between the film investors and the producers who actually spend the money. By focusing on producing great content, with factory efficiencies, our team believes it can generate profit margins unheard of in the entertainment business."

For more information, visit

Powered by WorldNow
3514 State St. Erie, PA 16508
Newsroom: (814)454-8812
Toll Free: 1(800)454-8812
Business offices: (814)454-5201
Share Stories
Submit your stories to our site!
Share Photos
Share your photos in our community galleries
Mobile Site
Be sure to stay constantly updated with the power of WICU12 and WSEE at your fingertips
Free Android App
Free iPhone App
Free iPad App
Storm Tracker App
All content © Copyright 2000 - 2014 WorldNow and WICU. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.
                   WICU/WSEE - 3514 State Street Erie, PA 16508 - (814) 454-5201 -