14 DAY TRIAL // With the worldwide success of the “Hobbit” series, the New Zealand film industry is looking for the next big project to engage in. And it seems that this new project will be the “Avatar” sequels under director James Cameron. The Economic Development Minister Steven Joyce and Arts, Culture and Heritage Minister Chris Finlayson have announced today the signing of a memorandum with Lightstorm Entertainment and Twentieth Century Fox to shoot the next 3 blockbusters in New Zealand.
It was a game of give and take, as both sides tried to make the best of a situation that will probably bring in lots of revenue. For its part, the New Zealand government offered a 5% increase on its budget for screen production from 15% and an additional 5% if the studios spend at least $500 million (approx. €364 million).
For its part, the Hollywood studio promised to guarantee that at least 90% of all principal filming would take place in New Zealand and at least 90% of the visual effects and post-production would be made locally.
The recent deal between the government and the film studio also includes clauses about employment for locals, hosting at least one red carpet premiere and adding a short feature about New Zealand on the DVD and Blu Ray versions of the film.
Director James Cameron, who owns land in New Zealand, says that he is happy to film in the country, but if the government had not raised its incentives, the studios would have probably have gone looking in other places.
Meanwhile, in New Zealand, there are rumors that the film industry is on a descending slope after the finish of the “Hobbit” production, which would explain why the Ministers were so keen to sign this deal, even if it ends up costing them more taxpayer dollars.