By Karl Quinn
The long-running negotiations to bring Disney's big-budget adventure film 20,000 Leagues Under The Sea to Australia appear to have finally born fruit, with the federal government expected to announce on Tuesday that it has secured the most expensive movie ever to be made in Australia thanks to a one-off grant.
Arts minister Tony Burke and Prime Minister Julia Gillard plan to jointly announce the deal, which represents a huge coup for the local film production sector.
Disney's 20,000 Leagues has been suggested to include actor Brad Pitt, centre, and director David Fincher, right.Credit: AP
Australia has had great difficulty attracting Hollywood productions since 2008 on account of the strong dollar.
The federal government has granted Disney a one-off payment equivalent to an increase in the foreign location offset from the standard 16.5 per cent to the 30 per cent rate for which the industry has long been lobbying. In April 2012 it offered a similar one-off deal to The Wolverine.
The government claimed its grant of $12.8 million would result in $80 million of production activity and 2000 jobs.
Former arts minister Simon Crean said in February that if the deal with Disney came off, it would be ''bigger than The Wolverine – in fact, it will be the biggest production ever filmed in Australia''.
The grant offered to 20,000 Leagues reportedly amounts to $21.6 million. If that figure is accurate, it would suggest the production could spend as much as $160 million in Australia.
Fairfax Media understands the deal was in fact secured before Mr Crean launched his abortive one-man coup on March 21.
Mr Crean was set to announce the deal on Monday, March 25, which would have capped a huge fortnight in which he had also announced his long-awaited National Cultural Policy on March 13. Instead, he found himself unceremoniously sacked from his post and relegated to the backbenches.
Disney has not yet announced casting details, but early speculation had David Fincher attached to direct and Brad Pitt slated to star.