Pinewood Studio Wales will be created at the former Energy Centre building at Wentloog, Cardiff, and will form part of Pinewood’s global network of film studios. The deal between the Welsh Government and Pinewood could generate an estimated £90m spend with Welsh businesses, supporting an estimated 2,000 jobs over the next five years.
First minister Carwyn Jones said the exciting deal was a "major coup" for Wales. Speaking at a press conference held earlier this week to announce the deal, Jones said: "Attracting such an iconic global brand as Pinewood is wonderful news for Wales. Pinewood is synonymous with world class British and international productions, including the James Bond film franchise and is home to some of the most successful feature films ever made.
"This high-profile investment is of significant economic value to Wales while the partnership between the Welsh Government and Pinewood offers a priceless opportunity to promote Wales as a world class location for film and television production."