Its been a little while since we've heard anything about Pirates of the Caribbean 5, but today Caribbean Business has revealed that this sequel will begin shooting in Puerto Rico this coming November.

Walt Disney Studios was lured in by the aggressive incentives the island has to offer, which makes sense, since the last couple of films in the franchise have held some of the biggest budgets in Hollywood history. Production costs for the last four films topped more than $900 million, with the series pulling in an estimated $3.7 billion worldwide.

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Hawaii, where most of Pirates of the Caribbean: On Stranger Tides was shot, was not able to provide the same types of incentives, so Disney baled on the state. Some scenes for the previous fourth installment were shot in Puerto Rico, and left the crew praising the locale.

New tax incentives for shooting in both Puerto Rico and the Dominican Republic went into affect this past July, and provide studio tax credits for money spent on non-resident actors, writers, directors and other talent.