BBOT Applauds Premier Eby’s Boost to BC Film Tax Credits, Securing Jobs and Economic Growth

Premier David Eby and the NDP government’s decision to increase the BC Film Tax Credit Rebates, including raising the Production Services Tax Credit (PSTC) and Film Incentive BC (FIBC) refund to 36 percent, is a strategic step toward maintaining British Columbia’s competitiveness in the global film and television industry. With 66% of Metro Vancouver’s film studios located in Burnaby, this industry is a cornerstone of the local economy, generating $4.9 billion in production spending in 2022 and employing over 70,000 people across the region. The film sector supports a wide range of jobs, from local actors, crew members, and set designers to those working in related businesses like equipment suppliers, restaurants, and coffee shops.

This increase in film tax rebates is expected to add 7,000 new jobs, helping attract more international productions to the province. As the global content creation slowdown continues and production budgets face increased pressure, the adjustment to the rebates is crucial to keeping B.C. competitive. Regions like Ontario have already updated their tax incentives to attract productions, and this move ensures that British Columbia remains a leading destination for filmmakers.

Film production’s impact goes far beyond the set, powering many small and medium-sized businesses that rely on the industry’s presence to thrive. The BBOT fully supports this initiative, recognizing its potential to safeguard jobs and strengthen the economic fabric of Burnaby and surrounding communities. By keeping productions in Burnaby and BC, the government is ensuring that the local economy continues to thrive, benefiting not only the film industry but also the broader business community.

This measure will bolster the sustainability and growth of businesses, large and small, that are integral to Burnaby’s economy. The BBOT applauds this move, as it will play a key role in ensuring that British Columbia remains a competitive hub for film and television production well into the future.

Click here to read the NDP announcement.