Ontario Supports Film and Television Industry



    
    McGuinty Government Proposes to Make Ontario's Enhanced Film Tax Credits
    Permanent
    

    TORONTO, Feb. 20 /CNW/ -

    NEWS

    To support growth and job creation in the Ontario film and television
industry, the McGuinty government is proposing to make Ontario's enhanced film
tax credits permanent.
    The proposed legislative amendments would ensure that the enhanced tax
credit rates for domestic and foreign film and television productions and
services would be permanent.

    QUOTES

    "The Ontario entertainment and creative cluster is a cornerstone of our
innovative economy," said Ontario Finance Minister Dwight Duncan. "In these
challenging times, making these enhanced film tax credits permanent would help
keep the cameras rolling in Ontario and attract even more projects to
Ontario."
    "The film and television industry is a vital part of Ontario's economy.
Proposing to make these tax credits permanent will help to significantly grow
the production sector and create more jobs for Ontarians," said Ontario
Culture Minister Aileen Carroll.
    "Ontario's commitment to stability is one of our key strengths as a film
and television production centre. The Ontario government continues to
demonstrate tremendous support for our industry. Today's announcement will
only enhance our ability to attract investment and production. This
announcement builds on our world-class infrastructure, high-quality and deep
pool of performers, directors, writers and crew," said Brian Topp, co-chair of
FilmOntario.

    
    QUICK FACTS
    -  As of January 1, 2008, the McGuinty government increased the Ontario
       Film and Television Tax Credit rate to 35 per cent from 30 per cent
       and the Ontario Production Services Tax Credit rate to 25 per cent
       from 18 per cent.

    -  These two refundable tax credits provided more than $165 million in
       tax support in 2008.

    -  Ontario's creative and entertainment cluster is the third largest in
       North America by employment after California and New York.

    LEARN MORE

    Learn more about economic development opportunities for Ontario's cultural
media industries through the Ontario Media Development Corporation
(http://www.culture.gov.on.ca/english/cult_ind/omdc.htm).

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For further information:

For further information: For media inquiries only, Alicia Johnston,
Minister's Office, (416) 325-3645; Scott Blodgett, Ministry of Finance, (416)
325-0324

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