It's that time of the political year, when the government drops financial teasers in the lead-up to the annual Budget (due to be unveiled on May 25).

Last Friday, they announced something we're glad to hear: that $303.9 million will be allocated to support the continuation of the New Zealand screen industry production grants, both globally and domestically.

This includes $222 million over four years and $18 million in 2016/17 for the International Screen Production Grant to bring international productions to New Zealand.

Up to $63.9 million over four years remains available to ensure the domestic component of the grant continues.

"Our screen industry has a reputation for being one of the best in the world and this grant helps the industry compete internationally for a wide range of projects which bring jobs and economic opportunities to New Zealand," says Economic Development Minister Simon Bridges.

"Since 2014, the grant has supported around 50 international productions. The industry now employs 14,000 people working in over 24,700 jobs or contracts. It has been a major contributor to the screen sector overall, drawing in $3.3 billion in annual revenue.

"Without the grant these international productions would not have located in New Zealand and much of the $3.3 billion would not have been spent here," Mr Bridges says.

Read the full press release.

 

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