South Australia’s government will allow video game developers to apply for a 10 percent rebate on production expenditure, a first for taxpayer-funded video games support in Australia.
The rebate is an extension of South Australia’s Post-Production, Digital and Visual Effects (PDV) Rebate, and comes not long last year’s introduction of an exclusive $300,000 innovation fund exclusively for video games, AR/VR and the music industries. And that was only 12 months after South Australia invested $2 million into the scene, money which helped fund the Game Plus co-working space.
So what does today’s announcement mean? According to the South Australian Film Corporation (SAFC), studios can now apply for an additional 10 percent rebate on “qualifying production expenditure” on work done in South Australia.
“This is an incredible growth industry and this rebate will not only help attract international games companies to South Australia, it will bolster the long-term growth of local players and other industries using the same technologies,” South Australian Minister for Trade and Investment David Ridgway said.
The South Australian government has announced it will invest $2 million into video game development, with $1.55 million going funding new development and another $450,000 towards the creation of a co-working space called Game Plus.Read more
The state’s Minister for Innovation and Skills added that the rebate would help existing studios pick up more contract work, along with developing their own in-house IP.
“It will support entrepreneurs to launch new game development start-ups – all ultimately leading to more skilled jobs within South Australia’s creative industries.” said Minister Pisoni.
More specifics about the new “SA Rebate for Games” will “be announced in the coming weeks”, according to the SAFC. The corporation will be notifying successful applicants for the next round of innovation funding this Friday, with successful studios able to receive grants of up to $25,000.