The Screen Production Incentive Fund (SPIF) will be available to New Zealand film and television producers from next week.

SPIF is designed to support the production of New Zealand-driven feature film, television and animation projects that have significant levels of private and/or international finance.

NZ Film Commission Chairman David Cullwick says the scheme is essential if New Zealand is to stay competitive with Australia, where a similar scheme (Producer Offset Scheme) was introduced last year.The Screen Production Incentive Fund (SPIF) will be available to New Zealand film and television producers from next week.

SPIF is designed to support the production of New Zealand-driven feature film, television and animation projects that have significant levels of private and/or international finance.

NZ Film Commission Chairman David Cullwick says the scheme is essential if New Zealand is to stay competitive with Australia, where a similar scheme (Producer Offset Scheme) was introduced last year."The film industry is of huge importance to New Zealanders and is one of our fastest growing, high-value industries.

"SPIF, which will be administered by the NZFC, is a welcome edition to the suite of financial support mechanisms available to screen producers in New Zealand," says Dr Cullwick.

Full guidelines and criteria for the fund are now available on the Film Commission's website.

Prime Minister Helen Clark said cabinet has now approved the eligibility criteria for the New Zealand Screen Production Incentive Fund.

"It will be a very important source of production finance for New Zealand screen projects," Helen Clark said.

"Cabinet has agreed to a five-year pool of funding for the new Screen Production Incentive Fund of $68.5 million. This pool contains significant new funding plus funding reprioritised from existing Film Commission funds, as was announced in the Budget.

"The New Zealand screen industry has been rightly concerned about the risks of important New Zealand screen projects moving offshore to take advantage of other opportunities, such as a grant scheme similar to this in Australia.

"Minimum and maximum qualifying New Zealand production expenditure thresholds apply to the Fund, along with eligibility criteria relating to New Zealand content.

The fund will provide a forty per cent grant on qualifying New Zealand feature film production expenditure, and a twenty per cent grant on qualifying New Zealand television and other screen production expenditure - primarily drama/comedy, documentary and animated content.

"The funding is structured in such a way that fluctuations in demand on the Fund can be managed across multiple years, to ensure that all eligible projects will receive a grant. The funding is baselined at $14.75 million a year.

The Fund will be administered by the New Zealand Film Commission on behalf of the Government. The Commission has been actively involved in the development of the Fund and its eligibility criteria.

"I am confident that this Fund will bring considerable benefits to the New Zealand screen production industry. The feedback received from the sector on the concept for the Fund has been extremely positive. I look forward to seeing the new investments in screen production which the fund will make possible," Helen Clark said.

03/07/08