Sony Pictures Entertainment announces the studio has broken ground on “Rainbow,” a major work of public art by renowned American multimedia artist Tony Tasset.

A steel polychrome arc, 94 feet tall by 188 across, “Rainbow” will span the distance between the studio’s historic Thalberg Building and the Madison Gate, making it visible from all directions and providing a stunning new landmark for the region.

Development of the project began in June 2011, with construction currently underway off site, and installation planned for fall (most likely mid Oct.) 2012, accompanied by a media reception.

For the concept of the “Rainbow,” Tasset was inspired by multiple factors including rainbows as a general symbol for optimism and well-being, as well as, specifically, their use in such iconic pieces of entertainment as “The Wizard of Oz” film, which was shot on the Sony Pictures Studios lot in the late 1930s.

Creator of several major public works of art, Tasset has a history of celebrating global popular culture, while owing a debt to tradition, particularly the Light and Space art movement based in Southern California.

Funding for project comes in part from Sony Pictures’ Public Art Requirement related to the studio’s construction project of two new office buildings and a parking lot, which opened in 2009 and were awarded with LEED Gold Certification by the U.S. Green Building Council.