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February 12, 2002
TEDCO Board green lights super-studio plans
  
The Board of the Toronto Economic Development Corporation (TEDCO) today
approved a recommendation to enter into letters of intent to negotiate a final
contract with a consortium lead by Pinewood Shepperton Studios, HOK Architects
and the Sequence Development Group.

The decision enables the consortium to move forward with plans to build
Canada's largest film and television production facility on Toronto's
waterfront. The facility's Hollywood-sized, state-of-the-art sound stages,
studios and post production services will be designed to attract big-budget,
high value-added productions that currently bypass Toronto. The project will
create 7,000 direct and indirect jobs and has a construction value of $150
million.

The decision completes a selection process that began in August of 2001 when
TEDCO issued a Request For Proposals (RFP) to proponents for the project. Upon
receiving submissions from two candidates, an Evaluation Committee was
established with representatives from TEDCO, City of Toronto staff and the
provincial government's Ontario Media Development Corporation.

The Evaluation Committee reviewed the submissions and held two rounds of
intensive interviews with the candidates. It undertook a rigorous review of the
submissions, focusing on a number of evaluation objectives and related
criteria set out in the RFP. On this basis it recommended the Pinewood
Shepperton Studios /HOK/Sequence Development Group proposal.

Also at today's meeting, the board agreed to a number of inter-related
recommendations designed to facilitate public and industry input into the
development and to enhance the environmental sustainability of the project.

TEDCO is a self-financing, arms-length agency of the City of Toronto. Its role
is to pursue industrial development, and to attract and retain jobs.


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