New regulations, aimed at supporting regional development of the audio-visual sector, have been approved by the European Commission.

The Regional Film Development Uplift, announced as part of Budget 2019, will be available to productions being substantially undertaken in "assisted regions".

This means areas designated as such under the regional aid map.

To qualify for relief, producer companies will have to show that training and skills development opportunities are provided to individuals mainly resident in the area - and that training will address a skills deficit.

The regional uplift will be phased out on a tiered basis over four years - with 5% additional tax credit available in 2019 and 2020, 3% in 2021 and 2% in 2022.

This will reduce to 0% from 2022 onward.

Chloe Grace Moretz stars in the Screen Ireland-funded film 'Greta' | Image: © 2019 Fís Éireann/Screen Ireland

European Commission approval has also been given to extend the Section 481 Film Tax Credit for four years, to December 2024.

Screen Ireland says this will provide "certainty for production companies regarding the future availability of the credit and helps to ensure the Irish film industry continues to grow."

Culture Minister Josepha Madigan says: "Both these measures are further important steps in support of this Government's ambition to make Ireland a global hub for the production of film, TV drama and animation.

"These new regulations will support creative talent in Ireland and help to develop a vibrant creative audio-visual sector throughout the country.

"The Regional Uplift also contains measures that oblige production companies to make training and skills development a key part of their projects, ensuring our film industry will benefit from the additional activity long after these productions have concluded."

Finance Minister Paschal Donohoe adds: "This incentive will support the development of new, local pools of talent in areas outside the current main production hubs.

"This will help to increase the geographic spread of the audio-visual sector in Ireland and support the overall cultural objective of having an established and sustainable audio visual industry in Ireland".

The audio-visual production sector in Ireland is estimated to be worth over €550m, directly employing 7,500 workers on a full-time basis.

Main image: © 2019 Fís Éireann/Screen Ireland