The Chiang Mai Wood movie-making project is expected to become a new tourism magnet and create 300 jobs for film and entertainment specialists.
Board of Investment (BoI) secretary-general Atchaka Sibunruang Brimble last week said the agency had approved incentives for three projects - a movie studio, a software business and architecture and an animation model - proposed by a US-based entertainment company.
These projects will create more than 300 jobs for film and architectural-illustration specialists and increase the sophistication of country's entertainment industry.
"The company's newest project, Chiang Mai Wood, will have what the BOI refers to as a "movie town" for projects that locate in the specialised industrial estate," Atchaka said.
The project will also support decentralisation by providing job opportunities upcountry. The investment will further develop the local film and entertainment industry and draw tourists to northern Thailand, generating more foreign revenue.
Creative Kingdom recently revealed plans for a huge, Bt8-billion movie town on 71 hectares of land in Chiang Mai, featuring a film studio and housing estates.
Creative Kingdom CEO Eduardo Robles said the project, which would take seven years to complete, would serve Asia's film-shooting and related industries.
It will also hopefully become one of the most famous movie towns in the world, he said.
Chiang Mai Governor Amornpan Nimanan said the company's choice of Chiang Mai to be the home town of CNX Movie World, or Chiang Mai Wood, brought much joy to not only the province, but also the whole country.
"We have wonderful land at the right price, an inexpensive price of course. Plus we have many highly-skilled people for the project," he said.
Seven universities and other educational institutions were ready to produce the human resources needed by this project, Amornpan added.