Burnaby Board of Trade calls for greater government support of BC’s film and television industry
May 03, 2013
The Burnaby Board of Trade, in the interest of a strong, innovative and diverse creative economy, is calling on government to increase their support for British Columbia’s film and television industry by finding ways to increase the tax competitiveness of the industry.
In its Economic Development Strategy (EDS) 2020, the City of Burnaby identifies film and television as a key industry sector. The Burnaby Board of Trade, in its role as the economic development agency for the City of Burnaby, acknowledges that the film and television industry is currently at risk due to its increasing inability to compete with other jurisdictions that benefit from more aggressive industry tax policy.
BC’s film industry creates over 20,000 jobs and contributes over $1 billion annually to the provincial economy through production spending, much of it flowing in from outside the province. In addition, the industry serves as the cornerstone for a more than $4 billion creative economy that employs more than 85,000 in BC and fosters innovation and economic diversification.
In Burnaby specifically – where 62% of the Lower Mainland’s purpose built studio space exists – the industry injected over $400 million in direct and indirect spending into the local economy last year, and employed 2,400 residents who earned almost $33 million over that period. In addition, the City of Burnaby earned $2.3 million through permits, property taxes, services, and rental fees and the Burnaby school district benefitted from nearly $50,000 for rental of school facilities, further underscoring the importance of this industry to Burnaby’s economic vitality.
Through its Board of Directors and Government Relations Committee, the Burnaby Board of Trade calls on our governments to address current industry concerns by finding ways to increase the tax competitiveness of the industry and to better support the growth of film and television production in BC.
The Burnaby Board of Trade is the economic development agency for the City of Burnaby. Representing over 1,000 local businesses, organizations and entrepreneurs, it works to foster a strong and diverse local economy for the benefit of the entire community.