UPDATE @ 10.30AM: It’s official! The Gold Coast film industry is set to boom after the Federal Government announced they will be investing $140 million over the next four years to lure Hollywood filmmakers to Queensland with massive funding tax breaks.
The game-changing announcement was made at Village Studios on the Gold Coast on Friday.
Queensland Premier Annastacia Palaszczuk said the increased location tax offset will pave the way for a pipeline of blockbuster movies and a permanent screen industry.
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“Increasing the offset from 16.5 to 30 per cent finally makes Australia world-competitive when it comes to luring international movie-makers to film their blockbusters and there’s no better place than in Queensland.”
The Premier said her government would keep up its campaign to lure a pipeline of the big name productions to Queensland, saying Screen Queensland had already been on the phone to studios in the United States overnight.
“The benefit these large scale productions bring to our state is enormous,” the Premier said.
“They bring jobs for Queenslanders, with over 4800 employment opportunities for cast and crew created since 2015.
“The productions also bring tourism opportunities for Queensland and the chance to showcase our beautiful State to national and international audiences.”
Premier Annastacia Palaszczuk will lead a delegation to Hollywood to bring the next blockbusters home to Queensland and will visit Los Angeles in early June as part of a Tokyo and Boston trade mission.
EARLIER @ 8.00AM: The Gold Coast film industry is expected to see a major boost, following the revelation the Federal Government is setting aside a massive amount of funds to entice movie makers down under.
It’s expected to be announced today that the Turnbull Government is investing $140 million to lure Hollywood filmmakers to Queensland with massive funding tax breaks.
At the moment, Australia’s rebate for big budget films is 16 per cent, however that’s expected to be increased to a whopping 30 per cent.
The move is expected to create thousands of local jobs.
More to come.