The New Zealand Film Commission has welcomed the increased funding for filmmakers of medium-scale films with approved New Zealand content, and the further impetus that it should create.

"The Commission views it as a positive response to the Australian Producer Offset Scheme which had potentially put at risk some filmmaking capability in New Zealand," said NZFC Chairman David Cullwick.

The Screen Production Investment Fund was announced as part of the 2008 Budget. The new fund will be administered by the Film Commission and begin on 1 July 2008. The criteria is open for consultation until June 6.The New Zealand Film Commission has welcomed the increased funding for filmmakers of medium-scale films with approved New Zealand content, and the further impetus that it should create.

"The Commission views it as a positive response to the Australian Producer Offset Scheme which had potentially put at risk some filmmaking capability in New Zealand," said NZFC Chairman David Cullwick.

The Screen Production Investment Fund was announced as part of the 2008 Budget. The new fund will be administered by the Film Commission and begin on 1 July 2008. The criteria is open for consultation until June 6.Prime Minister and Minister for Arts, Culture and Heritage, Helen Clark said the new Screen Production Investment Fund will support the production of strong New Zealand-driven creative screen projects with significant levels of private and international finance.

"Internationally, competition for production finance is intense. Many major screen producing nations, including Australia, now operate a domestic incentive scheme similar to the new Fund. If New Zealand is to maintain and develop a strong domestic screen industry and keep our filmmaking and television talent here, we have to be able to compete effectively. The Screen Production Investment Fund is a strong new incentive for producers and investors in New Zealand films".

The fund is allocated $27.8 million over four years in new funding, plus $26 million from existing funding to the New Zealand Film Commission, providing a total of $53.8 million.

It will provide a 40 per cent grant on qualifying New Zealand feature film production expenditure, and 20 per cent on qualifying New Zealand television and other screen production expenditure - primarily drama/comedy, documentary and animated content.

"This investment will boost domestic production and maintain a strong platform for our talented New Zealand industry. It complements the range of other government support for domestic screen production, including funding through the Film Commission, NZ On Air, and Te Mangai Paho.

"The new fund will also help maintain the foundation of industry capability in New Zealand which is necessary to continue to attract large offshore productions to New Zealand through the Large Budget Screen Production Grant."

The Screen Production and Development Association of New Zealand (SPADA) also welcomed the introduction of the fund.

"We are very pleased that the New Zealand Government has recognized the need to invest in industry development," says SPADA CEO Penelope Borland. "This is a watershed in empowering the industry and will stimulate growth. The Production Incentive will help to retain talent and stabilize and strengthen New Zealand's screen production infrastructure."

"New Zealand has been facing a drain of talent to Australia. With the Australian producer offset in place since last year, this has given its producers an edge in the international financing market, and some production companies have been considering moving to Australia take advantage of its scheme. This will help to retain screen production companies in New Zealand and enable them to build businesses here."

SPADA believes the introduction of the Production Incentive Fund will create new investment opportunities, which in turn will to lead to industry growth and development.

The Production Incentive targets medium to higher budget productions with significant New Zealand content, budget levels which sometimes fall between the funding available from government agencies and other Government incentives such as the Large Budget Screen Production Grant.

The new fund will be administered by the New Zealand Film Commission and will begin on 1 July 2008. Targeted minimum and maximum qualifying expenditure thresholds and other eligibility criteria relating to New Zealand content will apply to the grants.

More information

Draft Screen Production Investment Fund criteria

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25/05/08