With two new funding programs that could cover as much as 60% of costs for international feature film productions and the new state-of-the-art HQ7 Studios set to open in Vienna next year, Austria i…
With two new funding programs that could cover as much as 60% of costs for international feature film productions and the new state-of-the-art HQ7 Studios set to open in Vienna next year,Approved by the government last year and in effect since Jan. 1, the FISA Plus incentive provides funding for international and domestic films and series, including TV and streaming production.
Stressing the significance of the green bonus, Dumreicher-Ivanceanu says it’s “especially important in our times. Climate change is here — we can see it in Austria. Look at our ski slopes — there is no snow this year. It’s tough. The world has to change and the film industry has to change. … It’s not just that we can work with green producing, it’s also that once we do, people will see the films; they will see that the directors and actors are in this fight for the climate.
Austria already offered extensive film funding opportunities before the new FISA Plus and ÖFI Plus incentives, but they mainly served domestic productions. FISA Plus is squarely aimed at international co-productions. “With FISA Plus, it’s not just the production, but also the entire post-production that is included, and that’s important for Vienna,”Stoisits says, noting major players in the city such as Synchron Stage Vienna, the famed facility where music has been recorded for such recent works as “Ad Astra,” “Dune,” “The Lord of the Rings: The Rings of Power” and “Foundation.”
FISA Plus, he says, will greatly increase Austria’s competitiveness against Eastern European rivals, where many countries offer “huge tax breaks.” The previous FISA system was capped at $1.3 million a year, unlike the new limitless FISA Plus fund. The new system will help establish a larger and more permanent industry in Austria, Ramml adds, noting that in the past many in the sector had been forced to chase work abroad.
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