Toronto's Largest Film and Television Studio Complex Applauds Expansion of Ontario Production Services Tax Credit



    TORONTO, June 30 /CNW/ - Pinewood Toronto Studios welcomes the Government
of Ontario's proposed enhancements to the Ontario Production Services Tax
Credit. These changes will help ensure that Ontario's film and television
industry continues to build its reputation as one of North America's major
film and television production centres.
    "As recently as yesterday, some of our clients were considering other
jurisdictions because of the financial benefits. We received confirmation
today that one of these projects will remain in Toronto and I'm certain there
will be other such confirmations in the coming days. The new tax credit
enhancements will help ensure Pinewood Toronto Studios is a prime destination
for film and television production," says Edith Myers, managing director.
"Ontario has a wide spectrum of film and television infrastructure and
activity. The expansion of the Ontario Production Services Tax Credit
demonstrates the government's continued commitment to this vital industry."
    "Toronto's film and television industry has grown from the visionary work
of many individuals over a long period of time and, with the support of
governments, has become one of a few major production centres in the world,"
says Myers. "Building on this success will take continued collaboration
between government and the companies that make up this sector."

    McGuinty Government to Strengthen Entertainment and Creative Sector

    The Government of Ontario issued a release on June 29, 2009 stating that
proposed 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 Pinewood Toronto Studios

    Pinewood Toronto Studios is a film and television studio complex located
in the Portlands just minutes from downtown Toronto. Pinewood Toronto Studios
has seven new and purpose-built sound stages, including the Mega Stage, the
largest purpose-built studio in North America. Ultimately, the Pinewood
Toronto community will grow to include space for ancillary businesses such as
post-production companies, union and guild offices, film schools and support
and entertainment services for these businesses.
(www.pinewoodtorontostudios.com)




For further information:

For further information: Elizabeth Hoyle, (416) 274-5393,
ehoyle@h2central.ca; Matt Shaw, (416) 862-2800 x227, mattshaw@h2central.ca

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