Eby tells B.C. film sector ‘we’re in your corner’ as California mulls tax credit hike
‘Hollywood North’ could be facing some new pressures, with the original film and TV hub it is named after potentially getting big help from the California government.
California Gov. Gavin Newsome has proposed more than doubling the state’s film tax credit program from $330 million to $750 million a year.
“We need to do this. This is about jobs, this is about investment, and it’s about recognizing in closing that the world we invented is now competing against us,” Newsome said on Sunday.
“It’s not just New York, it’s not just Georgia.”
British Columbia currently offers a 28-per cent production services credit to both domestic and foreign producers, with no requirement for Canadian content.
During the provincial election, B.C. Premier David Eby pledged to hike that credit to 36 per cent.
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At his first media appearance since his re-election on Tuesday, Eby pledged his government would ensure the B.C. film sector stays competitive despite pressure from the big streaming platforms.
“We’re in your corner. We’re going to work with you to make sure that our industry is competitive, and we know that if we’re competitive, we can bring in the big productions,” Eby said.
“We’re not going to be able to outbid the lowest common denominator bidders in the United States, but, if we’re competitive, combined with the amazing crews that we have here in the teams that we have, we can deliver some of the biggest, productions available, given what we offer here in the province.”
CreativeBC, the provincial non-profit dedicated to promoting the creative sector, estimates the B.C. film industry employs more than 45,000 people and was responsible for $4.4 billion in direct spending in 2022.
B.C. laid out about $900 million in industry tax credits that year.
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