Ashby Corporation Limited Announces State Of The Art Bahamian Film Studios

€˜The Bahamas Film Studios', a state-of-the-art film studio facility and entertainment complex, is currently well into development on the Island of Grand Bahama, The Bahamas.This film production complex and tourism destination forms part of the operations of Gold Rock Creek Enterprises Ltd., an Ashby Company. The initial site cleanup of the decommissioned US Air Force Missile Base is almost complete and preparations are underway for the environmental analysis of the site. Many Bahamians are already employed by Gold Rock Creek Enterprises and most of the heavy equipment in Grand Bahama's east end is on site, preparing for the next phase; the renovation of existing buildings and construction of the new facility.

When completed The Bahamas Film Studios will have a significant positive impact on the economy of the Bahamas. The project creators say: "The studios will bring exciting opportunities to The Bahamas and will create a domino-like effect for numerous spin-off businesses. This economic upswing will provide the potential for exposure and marketing opportunities for The Bahamas to the traveling public, thereby branding the Bahamas as a tourism destination and an idyllic film location; increased local production spending for goods and services, amounting to hundreds of millions of dollars over time; increased quality employment for Bahamians in the production, tourism, and the hospitality sectors; intensive training for Bahamians in those industries; and wider market opportunities for locally made arts and handicrafts."

Craig Woods, the Bahamas Film Commissioner, is quoted as saying, "As part of the Bahamas Government initiative to provide a more diverse economy, we welcome the opportunity to partner with Gold Rock Creek Enterprises in supporting the development of such a state-of-the-art film studio facility on Grand Bahama Island. The Ministry of Tourism and The Bahamas Film Commission consider this project a major coup, as it will not only assist in the establishment of a bona fide film industry that encompasses cutting-edge technology, but it will most definitely improve the state of the local film industry. This project will provide employment, new skill development, increased film production and overall international exposure."

Gold Rock Creek Enterprises Ltd. has created a master plan that will incorporate a film and television production and post-production facility as well as a music-recording studio, with specific other phases which will include a movie theme park, a water park, restaurants, retail stores, an historic Bahamian Village and much more. The Bahamas Film Studios will become a defining landmark in The Bahamas. Film production will not be limited to the Freetown facility alone, as Gold Rock Creek plans to work closely with the Port Authority to utilize locations throughout Grand Bahama.

The $76 million investment was approved in principal in 2001, and in 2003 The Rt Hon Prime Minister Perry G. Christie, along with Hon Minister, Allyson Maynard-Gibson, Minister of Financial Services and Investments, formally announced the project. At that time, an agreement for the construction of the film production facility and entertainment complex was signed. Representing Gold Rock Creek Enterprises at the signing were Hans J. Schutte, Chairman and CEO; Paul Quigley, Chief Operating Officer; and Michael Collyer, Director.

Due to the enormity of this project, Gold Rock Creek Enterprises Ltd., through its development of The Bahamas Film Studios, is ensuring that all governmental concerns and criteria will be met. We welcome the opportunity of working with the Government of The Bahamas in the development of a Bahamian-based film industry and a tourism destination.

Gold Rock Creek will be liaising with Bahamas Technical Vocation Institute along with other local educational facilities to provide classroom, as well as on-the-job training, in order to develop an indigenous film industry in The Bahamas. "We plan to be here for the long-term and look forward to becoming an integral part of The Bahamas community."