Amazon (3379.09, 46.09, 1.38%) will receive more taxpayer subsidies from New Zealand for the production of the Lord of the rings TV series, which is expected to become the most expensive TV series ever.
New Zealand’s economic development minister Stuart Nash said on Friday that Amazon expects to spend NZ $650 million (US $465 million) in the country to produce the first quarter of the Lord of the rings, of which 25 percent (US $116 million) will be subsidized, up from the previous 20 percent.
Nash said the subsidy to Amazon was an important part of the production of the film. Amazon’s stock is worth $1.68 trillion, about eight times the size of New Zealand’s economy.
Nash said that under the agreement with Amazon, New Zealand can use any lens for international tourism promotion, arrange interns in the production process, and invite Amazon employees to visit to encourage innovation.
“The agreement with Amazon It will create jobs for local enterprises. This will bring a new round of international tourism brand promotion to the country. ”
The first season of the Lord of the rings was put into production in Auckland last year, employing more than 1200 people there, and about 700 people were indirectly employed by providing services for the production of the show.