Montréal, February 8, 2016 — Cinesite, an award-winning visual effects and animation based in London, UK, has chosen Montréal, Québec, to make its investment in a new state of the art animation studio with the intention of getting nine feature animated films into production over the next five years. This was announced today by Antony Hunt, CEO of the Cinesite Group, and the Premier of Québec, Philippe Couillard at the opening of the new 54,000 sq ft Animation Studio in downtown Montréal. The new facility will have the capacity to employ 500 permanent staff to work on animated films by 2020.
Investissement Québec on behalf of the Government of Québec is advancing a loan of $2.4m to support the creation of infrastructure to allow Feature Animation production. An additional loan guarantee of $19.6m towards an overall budget of at least $90 million is being advanced to the production company to help with the financing of each of the first three animated films.
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