South Australian has world-class creative industries and we know that creativity is a major driver of innovation and change.
At Lot Fourteen, creative industries are a strategic industry sector with a focus on post-production, digital and visual effects (PDV) and gaming.
Creative industries bring enormous economic value to our state, directly contributing $1.2 billion to the local economy and employing more than 15,000 workers in 2019. They also contribute significantly to our state’s vibrancy, attracting thousands of tourists each year.
Expenditure on PDV in South Australia rose to $66 million in 2018/19, up 50 per cent from $44 million in 2017/18, according to figures from Screen Australia. Employment in the sector has also risen, with South Australia providing post-production services for some of the world’s biggest productions.
A 10 per cent state-based PDV rebate, which complements the Australian Government’s 30 per cent incentive, makes South Australia a competitive place for this industry sector.
Creative industries at Lot Fourteen are represented by boutique post-production company Artisan Post Group; animation specialist Convergen, which produces visualisation of major infrastructure projects; and virtual reality studio Jumpgate VR.
The Growth State Creative Industries Strategy is helping to build a new economy over the next 10 years that is shaped by innovation and resilience.
The South Australian Government is working with industry to make it even stronger by creating the optimal environment for creative innovation, exemplified by Lot Fourteen as a collaborative and innovative ecosystem. The strategy also aims to diversify revenue streams within the industry and support the development of new, locally owned intellectual property.
The Creative Industries Strategy sets a target average of 5 per cent growth per annum to 2030. This target will see the gross value added (GVA) for the sector nearly double, from the current level of $1.2 billion to reach $2.1 billion by 2030.
Success of the strategy will also be monitored through metrics such as:
increased innovation, revenue diversification and new intellectual property developed