INDUSTRY NEWS

Industrial Light and Magic opens London SFX studio

Industrial Light and Magic, owned by Disney, has opened its new London offices before starting post-production on the new Star Wars film.

Lucasfilm president, Kathleen Kennedy, said: “This continues a long tradition of Star Wars movies being made in London that goes back to 1976”.

After discussions between the UK government and Lucasfilm, the Star Wars film production team is setting up its new office in Covent Garden.

George Osbourne said that the launch of Industrial Light and Magic in London is another example of the UK’s developing creative industries.

Osbourne stated: “There is a real buzz about our creative industries at the moment.”

Film production companies are eligible for tax relief of up to 25 per cent on the first £20m spent and 20 per cent tax relief thereafter. Since the introduction of tax relief in the UK in 2007, Disney has received approximately £170m from the taxman in return for making films on British soil.

Osbourne added: “I’d like to think that the government has had a part to play in that with our firm tax breaks, new video game support, special effects and animation”.

The London ILM offices are also working on Marvel Studios films, Ant-Man and Avengers: Age of Ultron, set to be released next year.

By: Kirsty MacGregor

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