29 Jul 2013

Hobbit films recoup $67m in rebates

6:07 pm on 29 July 2013

The makers of The Hobbit films have so far recouped $67 million in cash rebates from the New Zealand Government.

Productions with an expenditure in excess of $15 million qualify for a 15% rebate.

So far, production company 3 Foot 7 has spent nearly $447 million on the trilogy, with post-production to continue on the last two films.

The office for the Minister of Economic Development confirmed on Monday that the three productions will jointly apply for a one-off grant of nearly $10 million.

Productions that spend over $200 million in New Zealand are entitled to an additional grant of up to $9.75 million.