Miramar Sound Stage A Good Regional Investment

Media release – for immediate release
14 July 2006

Miramar Sound Stage A Good Regional Investment

Camperdown Studios’ new sound stage facility at Miramar generated an additional $63 million expenditure in the Wellington region and created an additional 218 full-time equivalent jobs during 2005, according to a recent report to Positively Wellington Business by NZIER.

NZIER examined the economic impact of the expanded sound stage facility, which was officially opened by Prime Minister Helen Clark in April 2005.

The world-class screen production facility was built with support from Positively Wellington Business, New Zealand Trade and Enterprise, and Wellington Mayor Kerry Prendergast. The principal funders were Camperdown Studios.

The soundproofed, fully enclosed studio space is living up to original calculations of its projected value to the local screen production industry and to the region.

NZIER reported that the facility has been generating enough revenue to provide a commercial return on the initial investment.

It had slightly exceeded financial targets for the first year, and had been utilised at about twice the level expected at the time the original feasibility study was written in 2003.

Peter Jackson’s “King Kong” project utilised the studio’s capacity in 2004 and 2005 above the level expected in the feasibility study.

The NZIER report said it was questionable as to whether this level of activity would have occurred in the Wellington region were it not for the existence of the expanded sound studio.

Philip Lewin, chief executive of Positively Wellington Business, said the additional $63 million and 218 full-time equivalent jobs generated have justified the region’s support for creating the facility.

“The Wellington region is a hub for screen production, thanks to the excellent infrastructure here, the talent and expertise, and the region’s willingness to make its streets, buildings, scenery and public spaces available for filming,” Mr Lewin said.

“Positively Wellington Business is continuing to support screen production at all levels on a daily basis, particularly through our Film Wellington business unit, because of the demonstrable economic benefits to the region.”

ENDS

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