Since Queensland’s film industry boom, New South Wales has been fighting back for its top spot.
The Minns government has announced expressions of interest for possible studio locations in the greater Sydney area to further support a local and international industry.
The studio would require a minimum of 6 sound stages, Disney Studio’s 9 sound stages currently struggling under the pressures of rapidly increasing production.
The flurry of work comes thanks to Australia’s refundable tax offset system for international productions, which offers a 40% rebate and 30% for TV/streaming.
Anthony Albanese shared a video to social media yesterday celebrating the boom, and promising more jobs under new laws requiring the streaming giants to invest 10% of their total program expenditure on new Australian content.
Currently, the proposed sites for the new studio are in Bungarribee near Blacktown, Eastern Creek and Prospect.
Previously, the second studio was required to be in a 35-kilometre radius of the CBD, but that has since been removed, as Arts Minister John Graham wants “all bids on the table.”
International productions such as The Fall Guy and Anyone But You proved Australia’s crews were in demand, but sidelined smaller productions unable to fight for studio space.
The second studio would take the pressure off Moore Park’s Disney Studios and allow a greater balance between Hollywood productions and local stories.
“Sydney is already a popular destination for international film production, with Greyhound 2 starring Tom Hanks currently in production, along with Street Fighter 2 and Apex, starring Charlize Theron, Taron Edgerton and Eric Bana,” Mr Graham said, going on to highlight the Bollywood industry’s use of Australia too.
Amidst a weakening local industry seeing production companies close, hopefully Sydney’s Western Sydney will deliver the much needed second studio for the booming industry.
