Australia has announced an extension of $ 400 million AUD ($ 280 million) to its location incentive plan, as the country makes an offer to take advantage of its relatively low exposure to the coronavirus pandemic.
Prime Minister Scott Morrison announced the funding commitment on Friday and said the incentive will be available for the next seven years. He added that it could attract up to $ 3B AUD ($ 2.1B) of investment from Hollywood and international film and television studios.
Location Incentive is designed to complement the existing Location Offset, which offers a 16.5% tax refund to encourage big-budget film and television projects to be filmed 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 who build and light the sets, who feed, house, and care for the huge cast and crew and who bring the productions to life. This supports thousands of Australians who make their living working on camera and behind the scenes in the creative economy. ”
