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SYDNEY — The Australian government will give The Walt Disney Co. AUS$21.6 million ($20.7 million) as a one-off incentive to shoot the David Fincher-developed remake of 20,000 Leagues Under the Sea, with Prime Minister Julia Gillard and Arts Minister Tony Burke confirming Tuesday they’d secured the Disney tentpole film for production down under.
The structure of the Locations Incentive — normally set as a tax offset of 16.5 percent of a qualifying foreign film’s spend — is similar to the one-off incentive paid to 20th Century Fox for making The Wolverine in Sydney last year. That film, according to politicians, created over 1,750 jobs, used more than 1,000 Australian companies and generated $80 million of investment across the country.
It had the effect of raising the Locations Incentive to around 30 percent.
Gillard said the deal will create up to 2,000 jobs.
“On the back of the launch of Creative Australia, the new national cultural policy, the securing of this film is a huge coup for the Australian film industry and for the near 1,000 local businesses that will be providing goods and services for the film,” Gillard said in a statement.
Last month’s policy announcement allowed for an additional AUS$20 million in new funding to attract international production to Australia and a commitment to increase the rate of the Location Offset should the Australian dollar remain high.
Debra Richards, CEO of locations marketing agency, Ausfilm said: “There has been 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.”
“The announcement of 20,000 Leagues Under the Sea to film in Australia will result in meaningful benefits for the industry and the economy; including jobs, skills and training, and investment back into the local industry. This one-off payment highlights the importance of an attractive Location Offset, which can successfully compete for large scale international production to shoot in Australia,” Richards added.
While casting and location details have not been announced, its been reported that shooting will take place in NSW and Queensland.
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