BCs Motion Picture Production Industry Dispelling the Myths

MYTH: BCS motion picture production industry is subsidized by BC tax payers: FACT: British Columbias tax incentive program for motion picture production does not provide subsidies. It provides a tax credit or rebate on labour based production costs that is, productions spend new money in the province and subsequently (12-30 months later) claim a rebate on the labour costs; no production dollars spent, no credit received. MYTH: British Columbias motion picture industry is a special interest group receiving preferential support from the public purse: FACT: The tax incentive program that encourages production in British Columbia is a common economic development tool used across a range of BC business sectors (i.e. in BC, logging, mining, book publishing, small business); this mechanism is widely used around the world. Tax incentives specifically designed for motion picture production were pioneered in Canada and were so effective at industry building that the model has been widely emulated across the US and Europe. MYTH: British Columbias motion picture industry is largely a foreign enterprise with limited benefits for British Columbians and BC owned production companies: FACT: Robust foreign motion picture production in British Columbia brings on average $1 billion in new money to the BC economy and employs 25,000+ tax paying BC residents. In addition, a healthy infusion of foreign production dollars helps to sustain a $1 billion infrastructure investment in BC which in turn enables BC owned production to develop by taking advantage of the talent, infrastructure and supply chain that is widely supported by the former.