Hobbit films will be shot in New Zealand
The upcoming Hobbit films have been confirmed for New Zealand. John Key, the country’s Prime Minister, announced that an agreement reached with Warner Brothers involves broadening the nation’s incentive programme.
In addition, new legislation will be introduced in New Zealand to clarify the difference between film industry employees and independent contractors.
Further, the Government will offset part of the production’s marketing costs up to a value of USD10 million as publicity will benefit New Zealand as well as Warner Brothers’ investment. The bottom line is that New Zealand could end up paying the studio USD25 million.
Mr Key said: “Making the two Hobbit movies here will not only safeguard work for thousands of New Zealanders, but it will also follow the success of the Lord of the Rings trilogy in once again promoting New Zealand on the world stage.”
Earlier this week protestors assembled on New Zealand’s streets to voice their opposition to the possibility of the films shooting outside the country. The potential economic impact to New Zealand of the films moving elsewhere even resulted in a fall in the value of the NZ dollar. The two films have a combined estimated budget of USD500 million.
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