TORONTO, July 3 /CNW/ - Cinespace Film Studios, Toronto's 21-year film
studio veteran, is crediting Premier Dalton McGuinty for new client interest
as a result of proposed improvements to Ontario's Production Services Tax
Credit.
"Premier McGuinty and Finance Minister Dwight Duncan are to be commended
for moving decisively to keep Ontario globally competitive in film and
television production," said Steve Mirkopoulos, President of Cinespace.
"Having just visited last week with a number of our key studio clients in
Los Angeles, we are pleased to report that the desire to come back to film in
Ontario is truly there", said Mirkopoulos.
"As a direct result of the Provincial announcement, we have already
received requests to hold space for upcoming projects, including from the
studio clients we just met with. We are moving forward with our film studio
expansion plans to accommodate the anticipated demand," said Mirkopoulos.
"There is unanimous agreement among the major studios that the Ontario
filmmaking experience is a fantastic one, but in order to continue earning
their business, we need to remain competitive. The Province of Ontario's
recent announcement is a major step in the right direction towards further
enhancing our competitive position."
Cinespace Film Studios is currently home to Universal Pictures' $75M USD
feature film, "Scott Pilgrim vs. the World", which has been in production in
Toronto since last October and is scheduled to wrap this August.
"We have so much to offer as a global competitor in film production -
talented technicians, a deep acting pool, excellent locations and facilities -
and now we can also point to our forward-thinking Provincial Government as a
clear indication of Ontario's long-term commitment to this industry."
McGuinty Government to Strengthen Entertainment and Creative Sector
The government is proposing further enhancements to its permanent film
and television production services tax credit. It is part of the government's
plan to support growth and job creation in Ontario's economy, including the
film and television industry. The amendments would expand the Ontario
Production Services Tax Credit to incorporate all qualifying production costs
incurred in Ontario, including qualifying labour costs as well as the purchase
or rental of qualifying tangible properties, such as equipment and studio
rentals. These proposed measures would take effect for expenditures incurred
after June 30, 2009. (view the original release at
www.news.ontario.ca/mof/en/2009/06/boosting-jobs-in-ontarios-creative-economy.
html)
About Cinespace Film Studios
Cinespace Film Studios is a 21-year veteran film and television studio
developer and operator, having brought over 800,000 square feet of studio
space online in Toronto and currently operating over 350,000 square feet of
space.
For further information: Nancy Daigneault, (705) 220-0016
