It looks like Marvel Studios will be calling Australia home for the foreseeable future.
The superhero production bigwigs have begun to set up their headquarters in Sydney, where they will remain for the next five years.
Marvel overlord Kevin Feige is reportedly planning to move Down Under permanently, with Guardians of the Galaxy 3 and the Doctor Strange, Captain Marvel and Black Panther sequels also set to be produced here.
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According to the Daily Telegraph, an 'insider' has confirmed the studio's big move from Atlanta to Oz, saying: "There is nowhere in the world where films can be shot in the way they can be here in Australia.
"Sydney is the perfect place for the Marvel blockbusters because most are essentially shot in front of a green screen. The whole studio is essentially transporting itself from the US."
It is believed the forthcoming films will be shot at Moore Park's Fox Studios in Sydney.
The exciting news comes as the highly-anticipated fourth Thor movie, Love and Thunder, kicked off filming in Sydney two months ago.
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The sequel will once again star Aussie actor Chris Hemsworth as the hammer-wielding titular character, while Natalie Portman has taken on the role of Jane Foster.
Fellow famous Chris - Chris Pratt - will also feature in the new flick as his Guardians of the Galaxy character Star-Lord.
Hemsworth is back on set after reportedly suffering a back injury which saw him seek treatment at a Queensland hospital where he received cortisone injections to manage the pain.
According to The Australian, the influx of locally produced blockbusters has already created more than 11,800 industry jobs in Australia is expected to boost our economy by an eye-watering $1.47 billion.
It comes as Hemsworth, Matt Damon and Idris Elba were seen living it up at an '80s-themed party for his childhood friend and personal assistant Aaron Grist in Barangaroo over the weekend.
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Chris reportedly flew his own private jet from Byron Bay to Sydney for the event, which also featured his wife Elsa Pataky and brother Liam Hemsworth.
According to 7News, Hollywood's sudden interest in taking blockbusters Down Under is thought to be due to the efficiency in which the country has contained the Covid-19 outbreak.
The boom in projects is also credited to the government announcing an additional $400 million for its Location Incentive Grant program, which encourages filmmakers to come to Australia by offering to cover up to 13 per cent of the project's local expenditure.
Featured Image Credit: Marvel/DisneyTopics: Entertainment, TV and Film, Australia