British Columbia to Hike Film Subsidy to Confront Sharp Production Decline
variety.comGene Maddaus Senior Media Writer The premier of British Columbia announced a significant hike on Thursday in tax incentives for film and TV, as the province struggles with a sharp decline in production.
Premier David Eby said the Production Services Tax Credit — which goes to international productions — will increase from 28% to 36%.
The domestic credit will also increase from 35% to 36%. In making the announcement, Eby said British Columbia must do more to compete with other jurisdictions.
The local industry has faced the same downturn that has sidelined film workers around the globe. “This is a sector that’s taken some hits,” Eby said at a press conference. “The decision by major studios to reduce some of their budgets on productions, the impact of labor disruptions, other jurisdictions competing with British Columbia for these productions with significant subsides for the industry, means we need to respond.
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