B.C. Raises Production Tax Credit
This is a B.C. news story, published by vancouversun, that relates primarily to David Eby news.
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Motion Picture Production Industry Associationvancouversun
•B.C.'s movie and TV industry is struggling. Will a promised tax credit increase help?
70% Informative
B.C. Premier David Eby promises to increase Production Services Tax Credit to 36 per cent from 28 per cent .
California Gov. Gavin Newsom has proposed increasing the state’s film tax credit program from US$330 million to US$750 million per year.
Hollywood North is experiencing a significant slowdown in the production industry.
The increased tax credit won’t hit the ground until the next provincial budget.
Industry types in B.C. are ready to use it as a selling point to Hollywood .
Domestic production is also down, says Tex Antonucci , vice-president Business Affairs at Lark Productions .
“The outlook is, well, let’s just call it guardedly optimistic,” says Wootton .
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