Global entertainment company Technicolor will establish a $26 million visual effects studio in Adelaide.
The South Australian government would give $6 million towards the project which was expected to provide a $252 million boost to the state economy over the next 10 years.
"This exciting investment cements South Australia as a global centre for visual effects and will create up to 500 new jobs in this hi-tech, creative industry," Premier Jay Weatherill said.
The focus for the studio would be delivering visual effects for major studio films before venturing into virtual and augmented reality.
"We picked Australia as an opportunity for expansion because it provides an ability to engage with a pool of proven creative talent," Technicolor's chief executive, Frederic Rose said.
Technicolor employs more than 15,000 with facilities in Paris, London, Los Angeles, Montreal, New York, Vancouver, Bangalore and Shanghai.
The company recently worked on the Oscar-nominated film The Shape of Water and previously on other films such as The Jungle Book, The Martian, Blade Runner 2049 and Wonder Woman.
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