Released on March 27, 2000
The Saskatchewan Opportunities Corporation (SOCO) is investing $250,000 inSaskatoon's film industry.
The money will be invested in The Edge Production Corp. It will use the money
to increase its development, production, acquisition and distribution of films.
The overall impact of the projects over the next three years is projected to be
$30 million in production and distribution revenue. The province is expected
to receive the benefit of having about 40-50 per cent of each film's production
budget flow back into the economy. That's approximately $8 million in salaries
and products and services purchased.
"The growth of the industry has been very encouraging," Economic and Co-
operative Development Minister Janice MacKinnon said." Saskatchewan film
production budgets have grown from $5 million in 1990 to $65 million this year
and are expected to reach $90 million next year. Now that's impressive growth
by any standard."
Edge Entertainment President David Doerksen said SOCO's investment will
increase Edge's development from two to five projects a year and increase its
acquisition of third-party titles from the current two to three titles a year
to ten titles a year for distribution in Canada. The company expects to employ
about 80 people on various productions.
The investment will also be used to attract senior management whose experience
is integral in completing projects at a faster rate.
"Edge Entertainment will continue to aggressively grow the company," Doerksen
said. "New project development, film and television acquisitions and domestic
and international sales of high quality product will continue to be the focal
point of our growth strategy."
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For more information, contact:
Irene Rau, Director, David Doerksen, President
Corporate Affairs, SOCO The Edge Entertainment Inc.
Phone: (306) 787-8576 Phone: (306) 374-1207
E-mail: irene.rau@soco.sk.ca E-mail: daviddoerksen@edgeentertainment.sk.ca
Web: www.gov.sk.ca/soco Web: www.edgeentertainment.sk.ca