Crean announces new funding to bring in international films
A funding increase of $20 million has been given to Ausfilm to encourage international filmmakers, bringing the on-location offset in line with the post and digital and visual effects offset.
The money, which was announced by Federal Arts Minister Simon Crean, will be used for Australia’s National Cultural Policy location offset to make Australia more desirable to international filmmakers.
Both the post and digital and visual effects and location offset are now offset 30% by the Federal Government.
Ausfilm CEO Deb Richards said the offsets would provide employment, skills and development training, infrastructure renewal, and economy support.
“We have already seen a renewed interest in Australia as a preferred location following the one-off grant provided by the Federal Government to The Wolverine, and the substantial benefits such a production brings,” said Debra Richards.
20th Century Fox’s The Wolverine wrapped up principal photography in Australia last November, was given a substantial offset of $12.8 million.
Disney has also turned its eye toward Australia for a film about Captain Nemo in the works.
“The increasing number of production incentives now offered worldwide and the strong Australian dollar have made it very difficult to attract major international production, which can locate anywhere in the world. An attractive Location Offset together with what Australia has to offer with world class crew, locations, state of the art studios and award winning post and visual effects houses, will make us extremely competitive internationally.”
Fairly certain the location offset was not raised. $20 million was pledged to help attract international productions but the offset itself will remain at 16.5% for now. Simon Crean mentioned the $20 million would be a precursor to the offset being raised but it officially has not been raised to 30%
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Crean seems to think that rent seeking from Hollywood is good for our business. Sorry Simon but these guys will disappear in a flash if they can get more government subsidy from another nation. It is short term and stupid politics.
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True Harry, but surely the ‘multiplier effect’ of that $20m will provide some much needed labour and income for local talent. But if you prefer your plan of sitting on your hands and doing nothing, please explain its benefits.
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