IF is reporting this morning that the federal government has agreed to offer Walt Disney Studios a $21.6 million incentive to shoot the fifth installment of the Pirates of the Caribbean franchise in Australia, most likely somewhere in North Queensland.
The incentive was previously offered to Disney when the Labour party was in power in order to allow for the remake of 20,000 Leagues Under the Sea before the project was shelved after the departure of director David Fincher.
A spokesman for the Arts Minister George Brandis said that the government was pleased to agree to Disney’s request to enable the earlier funding to be repurposed for Pirates of the Caribbean 5.
However, it was reported that Disney has also requested that the government contribute 30% of the films budget, which is reported to be over US$200 million, meaning that Disney could possibly approach the state funding agencies in order to make up the difference.
The studio is said to be also looking at a counter offer from Mexico to shoot at the same water tank where James Cameron shot his film Titanic.
Production on Pirates of the Caribbean: Dead Men Tell No Tales is due to start in early 2015 and has a US release date of July 7, 2017.