“Thor: Love and Thunder,” the fourth part of Marvel’s superhero franchise, will shoot in the Disney-owned Fox Studios in Sydney, Australia. The film is set to receive more than $16.7 million (A$24.1 million) in subsidies from the Australian federal government and the New South Wales state government.

The announcement, made Friday by NSW minister for the arts Don Harwin, is a location shift from the franchise’s previous installment, “Thor: Ragnarok,” which was shot in Australia in Gold Coast, Queensland.

Harwin also confirmed that the previously announced but unnamed Marvel film that the state had also attracted to Sydney is indeed “Shang-Chi and the Legend of the Ten Rings.” “Shang-Chi” will shoot first. Pre-production on “Thor: Love and Thunder” will start in March 2020, with filming to begin several months later, in August.

At Comic-Con, earlier this month, Marvel announced that Natalie Portman would be joining Australia’s Chris Hemsworth in a lead role in “Thor: Love and Thunder.” It has a scheduled release date of Nov. 5, 2021.

The Australian funding for the film is a combination of the federal Location Incentive grant and the state’s Made in NSW fund, which offers $38.2 million (A$55 million) over the next four years to support significant international screen projects and major local TV drama productions. The Australian federal government’s Location Incentive increases the existing Location Offset rate from 16.5% to 30% for eligible large-budget international productions.

“Thor: Love and Thunder” is expected “to invest more than A$178 million ($124 million) in our economy, create up to 2,500 jobs and use the services of around 1,650 businesses,” said NSW communications minister Paul Fletcher.

NSW recently increased its rebate scheme for post-production and visual effects, and as a result saw the Disney-owned VFX firm Industrial Light & Magic announce plans to open a production facility in Sydney.

“Shooting ‘Shang-Chi and the Legend of the Ten Rings’ and ‘Thor: Love and Thunder’ back to back will provide local crews with sustained, continuous employment opportunities. We will be working with local educational institutions in creating internship opportunities,” said David Grant, VP of Marvel Studios.