December 16, 2013 12:18pm by David Farrar

Three more Avatar films to be made in NZ

The Herald reports:

The next three Avatar films will be made in New Zealand, the Prime Minister has announced at a press conference with the film’s director James Cameron.

Mr Key announced this morning that the Government had signed a memorandum of understanding with the film’s makers to secure the multi-film deal.

He said investment would be “significant” – a minimum of $500 million for the three films.

Great news.

I await however Labour and the unions condemning the memorandum of understanding as crony capitalism.

20th Century Fox Hanneman said an undertaking of the scope of Avatar required a significant collaboration between the film industry and Government.

“New Zealand offers unparalleled support to films of this scale.”

Changes to the screen productive incentives will mean Avatar is likely to benefit from a 25 per cent rebate.

Changes to the incentives for both overseas and local film makers include raising the rebates from 15 per cent to 20 per cent – and those which provided extra benefits to New Zealand would get extra ‘points’ entitling them to an extra 5 per cent on top of that.

Economic Development Minister Steven Joyce said he expected the Avatar films to meet that top 25 per cent rebate – the deal includes marketing of New Zealand and substantial local employment.

The Avatar agreement includes committing to a long term relationship with 20th Century Fox, spending at least $500 million on production in New Zealand, including most of the live action shooting and visual effects.

It also commits the film’s makers to ensuring at least 90 per cent of the live action crew are New Zealanders and New Zealand will host at least one of the three premieres.

The Wellington red carpet has never been used so much!