The Australian federal government will provide about ৮ 280 million (িড 400 million ADD) to attract large foreign film productions. Prime Minister Scott Morrison announced the move on Friday local time.
The new location stimulus plan will provide cash grants over the next seven years. This is in addition to Australia’s location offset system, under which projects can receive discounts for manufacturing and post-production work in the country.
The location incentive program has followed a 175 million (250 250 million ADD package) released last month to support the recovery of the wider arts and entertainment sector from the coronavirus. Of this, 34 34.4 million (িড 50 million ADD) was allocated to the film and TV sector, most of it in the form of financial guarantees for insurance policies that allow resumption of film and TV productions.
“Location stimulation is an economic factor. It will keep Australian screen production and life and the support of local businesses alive,” said Federal Arts Minister Paul Fletcher. The government calculates that it will maintain eight thousand jobs in seven years. These will benefit 9,000 businesses.
Part of the calculation is that Australia manages coronavirus outbreaks better than the United States, making it a more attractive place to identify large, complex film productions. However, this argument is currently undermined by Melbourne’s recent lockdown and the country’s ongoing travel and aircraft restrictions.
Ten Hollywood movies have been able to access $ 86 million (3 123 million ADD) under the location offset rebate scheme, including the recent “Thor” and “Godzilla” titles and the ongoing Marvel film “Shang-chi and The Legend” in the ring. “
“South Australia has increased its investment in high-value international production in recent years, demonstrating the state’s ability to supply the state with productions including the state’s largest screen production ‘Mortal Kombat’ produc ‘Mortal Kombat’ Has provided a solid pipeline of work with significant work to do, ”said David Pisoni, South Australia’s Minister for Innovation and Skills. “As South Australia is one of the safest places in the world at the moment and one of the first in the world to resume production, the state is ideally set up to take a piece of this new fund for post-Covid recovery.”
But the guilds want more emphasis on local production. “As underlying manufacturing is an important part of the overall Australian manufacturing industry, we also need to ensure that there is a balance of government support for our entire ecosystem at this critical time,” said Australia, a screen producer for the industry group. “
Significant gains in employment, investment and creative output can also be achieved by increasing tax incentives for domestic television content, producer offsets, which should be increased from 20% to 40%. It is able to access a higher level of support from international producers than international ones, which create local IPs, hire local creators and create Australian cultural content.
The SPA argues that the quota of local content on Australian TV should be re-imposed later this year. Broadcasters were suspended due to a coronavirus outbreak to give them flexibility when supply chain was disrupted.
“If it is not immediately clear to all market participants that the television quota will apply in 2021, Australians will be fired unnecessarily next year,” the SPA said in a statement.