The ACT Government will be a co-investor in a new state-of-the-art sound stage and virtual production studio in Canberra to attract high quality film and TV productions, build our local industry capability and inject millions into the economy.
These types of investments help diversify our economy by developing employment opportunities in new and emerging industries for the ACT. It's part of our plan to grow our labour market to 250,000 local jobs by 2025.
"The development of a sound stage and virtual production studio will further boost growth in our creative industries, helping to enhance Canberra's growing reputation in the industry," ACT Chief Minister Andrew Barr said.
"Creative industries are a growth sector globally, generating 3% of global GDP and contributing around $90.1 billion to our national economy.
"Having a local state-of-the-art sound stage and virtual effects studio right here in Canberra will enable the ACT to attract a bigger proportion of that investment into the local economy."
The Academy of Interactive Entertainment (AIE) will build and operate the facility, which will provide a significant opportunity for local acting, directing and film production professionals in Canberra.
The project will attract high-calibre screen productions to Canberra and up-skill existing industry professionals and students in virtual production technologies, helping to create sustainable film industry jobs for the Territory's workforce.
Minister for the Arts Tara Cheyne said Canberra is home to a flourishing creative sector, and the investment in this facility will grow career opportunities and promote our city as a screen destination.
"The arts have played a significant role in helping our community through the pandemic and contribute immensely to the economic, cultural and societal value of our community.
"I'm excited to see how this investment grows our screen production capability and nurtures our local talent so we can produce amazing film and TV right here in Canberra," said Minister Cheyne.
The ACT Government is investing a total of $839,400 in both the sound stage and virtual effects studio. AIE will also contribute significant funding towards the project.
To further assist in the attraction of screen productions to Canberra, the ACT Government will provide ongoing funding through the 2021-22 Budget to Screen Canberra to lead screen industry development and attract productions to Canberra.
This is on top of the $500,000 committed in 2020-21 to establish a location incentive scheme to attract bigger screen productions to the region.
Quotes attributable to Academy of Interactive Entertainment Chairman and CEO, John De Margheriti:
"This funding is going to complement AIE's investment in establishing a large virtual production studio. In cooperation with Screen Canberra, our facility will attract additional investment into the region."
"We will generate and retain more film jobs that will build up a specialised skill-base in Canberra. It will cement Canberra as the new go-to destination for Virtual Production in Australia."
Quotes attributable to Screen Canberra CEO Monica Penders:
"This new support from the ACT Government really is a game changer for the local industry. It allows us to be nationally competitive with much needed studio space, and the location incentive to entice production to Canberra."
"It's a simple equation, the package of studio space and a location incentive means we are now competitive in the Australian screen landscape and leads to more jobs and a truly diversified ACT economy. This is crucial and welcomed support from the ACT Government at absolutely the right time."
