Industrial Light and Magic opens new London studio
by Naman Ramachandran
- State of the arts facility will create 200 new jobs
Iconic special effects company Industrial Light and Magic (ILM), whose long roster of credits includes the Star Wars and Harry Potter films, has set up a new high tech R&D division in London, creating 200 new jobs. The company, which is working on the Star Wars: Episode VII, currently being shot in the UK, moves to the UK following their success in securing support from a £15 million creative industries fund set up by Chancellor of the Exchequer George Osborne at Budget 2013. Over 320 films benefited from film tax relief last year and more will now, after Budget 2014 expanded it. The relief generates £12 for every £1 invested, according to British Film Institute estimates and since introduction it has provided support for British films with a combined production value of almost £8 billion.
Osborne said, “We set out with our long term economic plan to make the UK the best place in the world for the creative industries. So it is fantastic news that Industrial Light and Magic, one of the top global visual effects companies, is moving to London. This follows the announcement that the new Star Wars film, which they are also involved with, will be shot here. It shows that the decisions we have taken in government to make our tax reliefs more competitive and invest in skills and innovation are paying off.”
ILM President and General Lynwen Brennan said, “The investments that the government have made in the UK make it a thriving film community with the talent, history and economic model that makes it the ideal location not only for shooting Star Wars – but also the ideal place for ILM.”