Australia has announced a $400M AUD ($280M) extension to its Location Incentive plan, as the country bids to take advantage of its relatively low exposure to the coronavirus pandemic.
Prime Minister Scott Morrison announced the funding pledge on Friday and said the incentive will be made available over the next seven years. He added that it could attract up to $3B AUD ($2.1B) of investment from Hollywood and international film and TV studios.
The Location Incentive is designed to complement the existing Location Offset, which offers a 16.5% tax rebate to encourage big-budget film and television projects to shoot in Australia. The Australian government has already announced funding of $123M AUD ($86M) for 10 productions under the existing scheme, with features including Thor: Love and Thunder and Godzilla vs Kong benefiting.
Morrison said: “Behind these projects are thousands of workers that build and light the stages, that feed, house and cater for the huge cast and crew and that bring the productions to life. This is backing thousands of Australians who make their living working in front of the camera and behind the scenes in the creative economy.”
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