Film industry to get $300m Budget boost, mainly to attract big global productions

Director James Cameron, Hollywood's highest earner. The government has announced a budget boost of $300m for the film industry. Photo / Tourism New Zealand

New Zealand's film industry will get a $300 million boost in this year's Budget, most of which will be used to attract international blockbusters.

Economic Development Minister Simon Bridges and Arts, Culture and Heritage Minister Maggie Barry made the announcement in Auckland this morning.

In all, $303.9m would be allocated to New Zealand screen industry production grants in New Zealand and overseas.

Of that, $240m would go towards bringing international productions to New Zealand. The remaining funding would go towards domestic productions.

Bridges said the grants helped the local film industry compete internationally for a wide range of projects, which could create jobs in New Zealand.

Since 2014, the grant had supported about 50 international productions, he said.

The local film industry employed approximately 14,000 people and generated revenue of $3.3 billion last year.

"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," Bridges said.

Growth in the film sector had a flow-on effect to the tourism and tech sectors, he said.

Artificial intelligence and robotics devised for film productions were being adapted into healthcare and other areas.

On the tourism side, about 18 per cent of visitors to New Zealand said they had travelled here because of Peter Jackson's Hobbit Trilogy.

Barry said the domestic screen grant had supported 23 productions since it was introduced in 2014, including the Taika Waititi hit Hunt for the Wilderpeople.

"The international and domestic screen grants are working hand in hand," she said.

"The successful marketing of New Zealand as an international screen production destination is leading to increased production activity and improved business confidence within the domestic industry."