Technicolor announced its newest expansion in the Asia Pacific market with the establishment of Mill Film, a new VFX studio based in Adelaide, Australia.
The move coincides with the South Australia Film Corporation offer of a new, un-capped Post Production, Digital and Visual Effects (SA PDV) rebate. Beginning last month, the new SA PDV rebate offers a 10% rebate on work completed on projects in South Australia, which combines with an existing 30% incentive from the Australian federal government for a total 40% rebate offer.
“We picked Australia as an opportunity for expansion because it provides an ability to engage with a pool of proven creative talent; work with leading universities; and build on a modern and mature infrastructure that is critical for working on high-end VFX projects,” said Technicolor CEO Frederic Rose in a prepared statement.
The South Australian government said it will kick in as much as $4.7 million ($6 million Aus.) to support what it described as a $20.5 million, ($26 million Aus.) 32,000-square-foot studio. Technicolor said it expects to employ a staff of 500 at the new facility within five years.
Mill Film will focus on VFX for major film studios and streaming services, Technicolor said, with an eye on “emerging opportunities” in AR and VR. It will service clients that are not already working with sister companies MPC or Mr. X.