Source: New Zealand Government
The Government continues to invest in projects across the country to ensure our regions have the infrastructure they need to thrive and grow, and to boost local economies. The investment today announced for Queenstown Lakes district will drive innovation and create job opportunities in the region.
The Government has approved a $2 million loan from the Queenstown Economic Transformation and Resilience Fund (QET) to Target 3D Ltd to upscale the Queenstown Digital Studio, and has also approved a loan of up to $1.25 million to Loaded Reports Ltd, Minister Nash has announced today.
“The Queenstown Digital Studio will provide diversification within the screen industry, particularly for the district which is better known for location shoots than in-studio screen production.
“The studio will include infrastructure to support virtual production which includes LED screens, motion capture, game engine servers, lighting, production equipment and staging.
“This will provide access for filmmakers, game designers and television producers to the latest technology. It also aims to encourage screen production companies to remain in the district for longer periods, therefore increasing district and regional spend,” said Stuart Nash.
The screen industry is an important sector nationally, employing approximately 16,200 New Zealanders and contributing $3.3 billion to the economy annually.
Stuart Nash also announced the Government has approved a loan of up to $1.25 million from the QET Fund to Loaded Reports Limited.
This aims to accelerate the development and roll out of their cloud-based, software-as-a-service platform, uniquely designed to service the hospitality industry.
Loaded Reports are based in Queenstown and their software platform has over 700 hospitality businesses already using their service.
“Their customers are reporting that, thanks to Loaded Reports, they feel in control of their stock and labour management, and with that has come significant increases in profits.
“QET funding will help forecast Loaded to grow their business on a global scale within the next five years.
“As a growing innovative industry in New Zealand, digital technologies can support a shift from a low productivity base and limited qualified skills to a high-value jobs, new export revenue and increase international awareness of the success of New Zealand focused technology companies,” said Stuart Nash.
