London, January 20, 2014 – Québec Premier Pauline Marois, currently on an economic mission to Europe, announced today that Cinesite inc. will be setting up operations in Montréal. The new company will be in charge of the North American operations of London-based Cinesite VFX, which specializes in producing visual effects and animation for film and television.
Cinesite’s new studio in Montréal will create 200 jobs, possibly climbing to 250 by 2018. Opening the studio will require a $6.7-million capital investment by the company, which expects to have a total payroll of $42.4 million. Cinesite also plans to carry out R&D on production techniques and pursue other activities related to the creation of animated films. The Québec government is granting Cinesite inc. an interest-free loan of $1.2 million through Investissement Québec to assist with the project.
“I am very proud that Cinesite has chosen Québec as its key partner in North America,” stated Premier Marois. “The creation of lasting jobs in Québec is the top priority of my government’s economic policy. To meet our goal of creating 43,000 high-quality jobs by 2017, we are supporting major economic initiatives like this new venture from Cinesite inc., a member of the thriving visual effects industry. Montréal will now be home to a new company, one that will be of strategic importance to its film and television and video game industries and is likely to draw more major film shoots and multimedia productions to Québec.”
Cinesite VFX provides special effects and animation services for film and television. Its clients include several major Hollywood studios, including The Walt Disney Company, Paramount Pictures, 20th Century Fox and Warner Bros., as well as such television networks as HBO Films and BBC. To date, Cinesite VFX has collaborated on the production of some 150 feature-length films and TV productions. The company has an extensive range of special-effects software, which is also used in content creation, stereo conversions, and producing and enhancing video games.
“Over time, our company has acquired cutting-edge expertise in creating special effects and managing large-scale projects, skills we draw on to create popular, high-quality products. Setting up a North American sister company marks an important step in the growth of Cinesite VFX. The city of Montréal offers a number of significant advantages for our company, including a qualified workforce and vibrant film and video game industries. Those strengths will no doubt contribute to Cinesite inc.’s success in the Americas and to raising the profile of Québec and its largest urban centre around the globe,” asserted Antony Hunt, Managing Director of Cinesite VFX.
“Our support for Cinesite inc.’s venture reflects our desire to contribute the development of a key industry for the economies of greater Montréal and Québec as a whole. The arrival of this global leader in Montréal will strengthen Québec’s visual effects hub and reinforce synergies within this industry and the video games industry. It gives us great pride to welcome this new company, which will bolster Québec’s position as a world leader in multimedia and special effects,” the Premier concluded.
To receive Investissement Québec press releases in real time, subscribe to the following RSS feed: http://feeds.feedburner.com/IQ-PressReleases
- 30 -
1 866 870-0437