NORTH VANCOUVER – The Province intends to extend British Columbia’s successful film tax credits for an additional five years to 2013, Premier Gordon Campbell announced today at a celebration to proclaim Motion Picture Industry Week in B.C.
“The motion picture industry has become a significant part of British Columbia’s economic, artistic and cultural identity, directly employing 20,000 British Columbians and generating $1.2 billion in production expenditures last year,” said Premier Campbell.
“Our film tax credits ensure B.C. remains competitive in maintaining the tremendous activity we have seen in this sector. In the upcoming budget, we’ll ask the legislature to extend those credits for an additional five years to help ensure B.C. remains top of mind with producers.”
The tax credits were set to expire in 2008 and the decision to seek an extension to 2013 was made following the Ministry of Finance’s 2007 Film Tax Credit Review. The review involved consultations with domestic and foreign film producers and British Columbia Film.
“An extension was widely supported by industry representatives, who reported the program increased employment and stimulated growth of the industry in British Columbia,” said Finance Minister Carole Taylor. “By announcing our intentions now, we send a clear message that we want British Columbia to remain a location of choice for film and television production.”
