Sunday, October 21, 2007

BC To Extend Film Tax Credits...

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British Columbia will extend its film tax credits for another five years, said provincial Premier Gordon Campbell.

The tax credits, set to expire next year, are to be revived in the provincial budget tabled next February.

"Our film tax credits ensure BC remains competitive in maintaining the tremendous activity we have seen in this sector," Campbell said.

"In the upcoming budget, we'll ask the legislature to extend those credits for an additional five years to help ensure BC remains top of mind with producers."

The incentives offer credits on 30% of labour costs for domestic productions and 18% per cent for international. There are further incentives for productions filmed outside the Vancouver area and digital animation or visual effects.

British Columbia's film industry generates $1.2 billion in spending and employs 20,000 people, making the province Canada's largest centre for film production.

Fifty-three feature films and 39 television series were produced in the province last year...