In a pre-Budget announcement, Economic Development Minister Simon Bridges last week announced $303.9million would be allocated to New Zealand screen industry production grants in New Zealand and overseas.
The allocation included $222million over four years and $18million in 2016-17 for the International Screen Production Grant.
Up to $63.9million will be available over four years to ensure the domestic component of the grant continues.
Mr Jennings, who is also chairman of the Association of Film Commissioners International (AFCI), said the announcement was great news and would ''absolutely'' attract more films to the South.
''We are in a global industry and a strong incentive programme keeps you at the forefront of that.
''It's great to see support from the Government. Ongoing incentives are what can really build an industry.''
His position as chairman of AFCI gave him insight into how crucial incentives were when it came to attracting to production.
''If you don't have solid incentives, you are just not in the game.''
Clutha-Southland MP Todd Barclay said the allocation meant more blockbusters could be shot in his electorate.
Pete's Dragon, which was filmed in Tapanui, was a ''perfect example'' of how international productions could benefit New Zealand and the South.
The film had a crew of 810 New Zealanders and provided a major boost in revenue for local businesses.
''The paybacks to West Otago from filming have been ongoing. The production breathed new life into Tapanui, with stores and buildings given a spruce-up as the town was transformed into the Midwestern town of Millhaven. Locals played extras in the film and provided accommodation - it was embraced by everyone and benefited the whole town.''
It had probably also boosted tourism in the area.
