Film Production Fund

The government announced today it was contributing $22 million this financial year to enable the establishment of a Film Production Fund to boost the development of the New Zealand film industry.

Prime Minister and Minister for Arts, Culture and Heritage Helen Clark said the film industry was making a significant contribution to the New Zealand economy and export earnings, and had the potential to contribute even more.

"This new government investment is designed to boost jobs and opportunities in the industry.

"In recent years, we have seen the benefits in Wellington from Peter Jackson's Lord of the Rings production. Auckland too has a growing and successful film production industry. The government is committed to building on these successes, not only for the intrinsic cultural benefits from a thriving film industry, but also for the tangible economic benefits in terms of jobs.

"The government will invest $22 million in the establishment of the New Zealand Film Production Fund Trust which will oversee the Film Production Fund. The Trust will be an independent charitable trust, and it will work closely with the New Zealand Film Commission.

"The Fund will be able to attract further funding from other sources – including off-shore capital – and will be used to support films produced on a larger scale than those generally assisted by the Film Commission.

"Funding for these 'second tier' feature films will provide a bridge for film makers between the highly subsidised, low budget first films the Film Commission has traditionally backed and fully commercial productions. Films on this intermediate scale will allow filmmakers to develop and display their talent to the point that international commercial investors would be willing to finance future productions.

"Film has an important role in our cultural and economic development. But past limitations on the funding available to the New Zealand Film Commission means New Zealand hasn't yet tapped film's full potential. The establishment of this Fund is designed to attract more investment into film-making."

"For New Zealand to have a strong commercial film industry, we need a large talent base of experienced, successful producers, directors, writers, actors and production staff. The Film Fund will support the creation of this talent base, fostering jobs for many New Zealanders who would otherwise be forced to look for opportunities overseas," Helen Clark said.