Boosting Jobs In Ontario's Creative Economy
McGuinty Government to Strengthen Entertainment and Creative Sector
The government is proposing further enhancements to its permanent film and television production services tax credit. It is part of the government's plan to support growth and job creation in Ontario's economy, including the film and television industry.
The amendments would expand the Ontario Production Services Tax Credit to incorporate all qualifying production costs incurred in Ontario, including qualifying labour costs as well as the purchase or rental of qualifying tangible properties, such as equipment and studio rentals.
These proposed measures would take effect for expenditures incurred after June 30, 2009.
The province is also committed to working with British Columbia and Quebec to coordinate better ways to attract business.
- Industry research indicates that film and TV production generates approximately $2 billion annually for the provincial economy.
- Ontario's creative and entertainment sector is the third largest in North America by employment after California and New York, with more than 276,000 jobs.
- On February 20, 2009, the McGuinty government announced changes to make permanent the enhanced 35 per cent Ontario Film and Television Tax Credit and the enhanced 25 per cent Ontario Production Services Tax Credit.
- The 2009 Ontario Budget announced a $10 million pilot program that would refund a portion of the costs associated with intellectual property development to Ontario companies in the screen-based industries.
“The McGuinty government is prepared to continue its firm and ongoing commitment to ensure Ontario remains a top jurisdiction in North America for film and television production.”
“Ontario continues to be the leader in providing an environment for the television and film industry to thrive and flourish. These proposed tax credit enhancements would ensure the production sector remains a vital player in Ontario's innovative economy.”
“Ontario's film and television industry warmly thanks the McGuinty government for stepping up to the plate to save and create thousands of jobs. We are delighted by this bold move. It will ensure Ontario continues to attract productions that generate billions of dollars in economic activity, protecting our infrastructure and creating jobs throughout the industry.”