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Office of Economic Development

December 2009

BUSINESS NEWS- Special Edition

 

The Office of Economic Development welcomes you to our monthly update on economic activity in the Town of Stratford with this edition.

 

DMG Studio Holdings LLC has announced their successful contract to purchase the former Exxon/ Mobil facility located at 495 Lordship Boulevard. The 18.69-acre site, housing 292,738 square feet of building, will be home to film, television and digital media. Allen Christopher heads the development team that is acquiring the site. This former manufacturing facility lends itself to the adaptable reuse by digital media and the motion picture industry and is expected to close in late December or early January. 

 

Digital media is one of the fastest growing industries in the world today. The opportunities that Stratford has in becoming the “Capitol of Digital Media” is overwhelming. It will not only impact the Town of Stratford, but the region, as well as the State of Connecticut for economic job growth. Currently the State of Connecticut ranks last in the fifty states for job growth. The United States is far behind on the domestic front of digital media while the Asian market leads the way. South Korea ranks first in digital and the United States is listed in seventeenth place in the global market.

 

Christopher received the last franchise awarded for television rights in the State of Connecticut by the Federal Communication Commission and plans for Channel 51 to operate from the Lordship Boulevard facility. The television station will cover the New Haven to Stamford corridor. Local news and activities will be featured on the local channel.

 

Home televisions just completed the change from analog to digital media in June of this year and represent the beginning of the trend to the digital industry. Job creation to the area market of this new diversified industry. Rapid growth is anticipated as we develop an infrastructure to accommodate the digital and motion picture industry on a year round basis.

 

The former Exxon Mobile building has ceiling heights fit the requirements needed to meet the needs of the film production companies along with television production facilities.  It is reported that approximately 30 tenants have been lined up for the DMG Studios facility at the Lordship Boulevard address.