$140m govt incentive to attract Film & TV
Producers welcome a move designed to lure more Film & TV projects to Australia.
Producers have welcomed an announcement by the government today designed to lure more Film & TV projects to Australia.
The $140 million Location Incentive will be delivered over four years from 2019-20 and will create more than 3000 jobs, bringing in over $260 million in new foreign investment. It will effectively provide an increase to the Location Offset rate from 16.5 per cent to 30 per cent for eligible large budget international productions that film in Australia from July.
Screen Producers Australia CEO Matthew Deaner said, “I welcome today’s announcement. SPA has long argued that greater certainty and support should be afforded to international production in Australia. These international productions offer great opportunities for enhancing the industry’s reputation and capability. At least 10 per cent of our workforce is employed on these productions and rely on a robust, solid and successful local industry that has been built up over decades.
“I now look forward to working with the Government to further its reforms to grow local industry capacity, capability and trade opportunities so we can employ more Australians and make great Australian stories for Australian and international audiences.”
“This represents a positive policy change ensuring that Australia continues to attract high quality, large budget feature films which will grow our talent and creative industries. It will also promote Australia as a dynamic, innovative economy and tourist destination,” Foreign Minister Julie Bishop said.
“This funding is all about supporting local jobs. It will ensure our film industry remains vibrant and competitive, and gives us the opportunity to showcase our talent both on screen and behind the scenes to the rest of the world,” Communications & Arts Minister Mitch Fifield said.
“This new funding means more international films will be made here in Australia, and particularly in Queensland, which means more local jobs,” Minister Ciobo said.
“The major studios have told us they want to make movies here. This funding makes Australia more competitive and will help secure more major productions that will create and support local jobs.”