Baz Luhrmann's The Great Gatsby will begin filming at Sydney's Fox Studios later this year.
The NSW government said the production will inject more than $120 million into the NSW economy and support more than 825 jobs. Pre-production is set to begin in March, followed by 17 weeks of filming in August and 30 weeks of post-production work.
“This comes at a good time for the film industry,” Premier Kristina Keneally said. “Australia was thought to be losing international filmmaking due to the strong Aussie dollar – put simply, this is a big win.”
The NSW government will not reveal how much it has spent to attract such productions to the State.
The 1920s classic, based on the novel by F. Scott Fitzgerald, will star Leonardo DiCaprio and be filmed in 3D. US studio giant Warner Bros. will back the production.
The NSW government said an estimated 275 crew will be employed during pre-production and more than 400 cast and crew will be employed during principal photography.
It follows an announcement last month that Sydney-based company Animal Logic will lead the animation and visual effects work on the $65 million Walking with Dinosaurs 3D feature film over the next two years.