Lights, camera and lots of action soon could star in Salt Lake City with a state-of-the-art movie studio coming to the Utah State Fairpark.

City Councilman J.T. Martin announced Tuesday that Blackstone Studios, in partnership with Zions Bank, is eyeing 53 acres at the Fairpark for 12 sound stages and a post-production facility worth $50 million.

On a related note, Martin is proposing the city offer sales-tax rebates and other financial breaks to help lure large film or TV-series ventures. He says the move could translate into millions of dollars through hotel stays, high-paying jobs and retail revenue.

"I don't know of another industry that can come and dump $13.3 million in 41 days," he said, referring to the "High School Musical 3: Senior Year" shoot under way at East High. "These opportunities are just waiting for us out there, and they move quickly."

For the Fairpark, the Blackstone move could make over a west-side dead zone that briefly was considered for a Major League Soccer stadium and is slated for a TRAX stop.

The vision, modeled after the art district in Vancouver, B.C., is to create a permanent indoor open-air market along the Jordan River similar to the popular marketplace in the San Francisco Ferry Building. Blackstone also envisions retail, office and residential units that could balloon the project to between $300 million and $800 million.

Blackstone is asking Utah's economic-development office to coordinate with legislative leadership and Gov. Jon Huntsman Jr. for approval. The studio would like to buy or lease the Fairpark acreage - perhaps notching a deal during the next legislative session - and would allow the Utah State Fair to continue, or assist it in relocating.

The studio pledges 250 full-time jobs over 10 years and the creation of 30,000 secondary film jobs during the same decade. It would be open to a revenue-sharing agreement with the state, according to information provided by Martin.

The same document says the Fairpark board favors the project proposed by Blackstone, which also would partner with Provo-based Stone Five Studios.

Martin notes the Beehive State has had "a very good run" with "Touched by an Angel," "Everwood" and now the "High School Musical" craze. While TNT's "Blank Slate" pumped sales tax coffers and put actors and extras to work, another production named "Leverage" recently opted for Oregon.

"We lost that because we couldn't compete," Martin said.

The first-year councilman insists the capital must offer incentives to keep Utah competitive, including low-percent financing and in-kind advertising, particularly since state funds are virtually tapped.

David Everitt, Mayor Ralph Becker's chief of staff, says the mayor's team "loved" the idea.

"It certainly touches on a huge issue for us," he said, "economic

development."

djensen@sltrib.com