Indomina and Pinewood Announce New World-Class Studio Facility in Dominican Republic
- Dominican Republic Government Passes New Tax Incentive Legislation to Boost Local Filmmaking in Conjunction With “Pinewood Indomina Studios” Launch
A ground breakingceremony, inaugurated by the President of the Dominican Republic, Dr.Leonel Fernandez Reyna, is taking place today.Located in the beach town of Juan Dolio on the Dominican Republic'ssouthern coast, about 40 miles east of Santo Domingo, “PinewoodIndomina Studios” will be a full-service, world-class productionfacility for film, TV, and other related media content, servicing thegrowing Caribbean, Southern and Central American markets as well asHollywood and the rest of the world.
The state-of-the-art film and television production facilities willinitially comprise 5,000 sq m of sound stage space along with 15,000sq m of associated production support facilities. The 35 acre sitewill include an acre water effects facility including a 75m x 75mexterior water tank with natural ocean horizons, blue screencapabilities and a fully equipped diving and marine department. Whencompleted it will be the only tank of its type and size in theregion. Commencement of initial operations is expected by early 2012.
Growth in spending on filmed entertainment in Latin America isexpected to rise at a 4.5 percent compound annual rate to $3.1billion in 2013 from $2.5 billion in 2008. Box office spending isexpected to increase from $1.3 billion in 2008 to $1.7 billion in2013, a 5 percent compound annual growth(1). Pinewood IndominaStudios will target production companies wanting access to theCaribbean, Central and South American markets and its population of580 million(2) as well as the 47 million strong Hispanic and Latinomarket in North America(3).
As a production location, the Dominican Republic offerswell-established infrastructures, reasonable labor costs, atechnically-skilled workforce, and a secure and stable environment.Together with the unmatched production values that the Pinewood nameguarantees, Pinewood Indomina Studios promises to be both highlycompetitive and on the cutting edge of technical and creativecontent.
In a significant show of support for not only the new studio but thefilm industry as a whole, the National Congress of the DominicanRepublic has passed into law a new bill that will provide a taxcredit of up to 25% for feature films and TV series shot in theDominican Republic (meeting traditional predetermined criteria).
Thenew tax incentive, a first for the Dominican Republic, is now ineffect. Indomina Group Co-Chairman and CEO Jasbinder Singh Mann said: “Theground breaking ceremony for Pinewood Indomina Studios marks a majorstep forward in Indomina‘s evolution. Building and operating aworld-class production facility in the Dominican Republic has alwaysbeen an integral part of our vision for the company, and we’redelighted to be doing so with a partner as distinguished andexperienced as Pinewood.”
Commenting on the announcement Ivan Dunleavy, Chief Executive,Pinewood Shepperton plc said: “This represents further progress inPinewood's strategy to leverage the strength of our brandinternationally and specifically to the growing Latino film andtelevision market. The Pinewood brand stands for excellence in theglobal film industry and we have strategically targeted regions ofthe world where significant incremental growth has been forecast.”
The formal groundbreaking ceremony takes place today, Wednesday the23rd of February 2011 at 10:00am local time in Juan Dolio, DominicanRepublic.
About Indomina
The Indomina Group is a vertically integrated independent studiolaunched in 2008 by Co-Founder and CEO Jasbinder Singh Mann and assetmanager Vicini.Operating in Los Angeles and the Dominican Republic, Indomina takes atransmedia approach to collaborating with content creators around theworld to bring innovative entertainment properties to the market. The company's global operations include the production anddistribution of motion pictures, television, music, interactivegames, and the ownership of world-class studio facilities andproduction services. For more information please visit www.indomina.com
About Pinewood
The Pinewood Studios Group is a leading provider of studio andrelated services to the global film and television industry.Synonymous with world class British and international productions,the impressive heritage of its UK-based Pinewood, Shepperton andTeddington Studios date back to the early 20th Century and are hometo some of the most successful feature films and TV shows ever made. Renowned across the globe for excellence in its field, the Pinewoodbrand is now being exported overseas to studios in Toronto - Canada,Berlin - Germany and Iskandar - Malaysia.The facilities comprise the best quality sound stages, a globallyunique underwater filming stage, a wealth of specialist productionresources, state of the art TV studios, post production and digitalcontent services. The studios also offer easy access to the world‘smost experienced crews as well as the expertise of hundreds ofcomplimentary media companies based at its Pinewood and SheppertonMedia Parks.Recent film and TV productions that have used the Studios’ facilitiesinclude Pirates of the Caribbean: On Stranger Tides, Captain America:The First Avenger; Harry Potter and the Deathly Hallows: Part 1;Robin Hood; Moon; Gulliver's Travels; Little Dorrit, Dancing on Ice,The Magicians, ZingZillas, Would I Lie To You and Reggie Perrin.Visit www.pinewoodgroup.com for more info.
(1) Source: PricewaterhouseCoopers, Global entertainment and mediaoutlook:2009-2013(2) Source: US Aid, Population Reference Bureau, World PopulationData Sheet, 2009(3) Source: American Community Survey 1-Year Estimates, US CensusBureau, 2008
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Indomina 개요
Indomina Group은 동영상과 텔레비전, 음악, 인터액티브 게임의 제작 및 배포, 세계적 수준의 스튜디오 시설 및 제작 서비스를 하고 있다.
웹사이트: http://www.indomina.com
