The Province of British Columbia has announced significant updates to its motion picture tax incentives, a move that will strengthen the province’s position as a global filming destination and benefit communities like Cowichan.
Starting January 1, 2025, tax credits for film and TV productions in B.C. will see substantial increases:
- The Film Incentive BC (FIBC) tax credit for Canadian-content productions will rise from 35% to 36%.
- The Production Services Tax Credit (PSTC) for international productions will increase from 28% to 36%.
- Productions with B.C. production costs exceeding $200 million will receive an additional 2% bonus.
These enhancements respond to challenges faced by the film industry in recent years, including pandemic disruptions, labour strikes, and increased competition from other jurisdictions. The goal is clear: attract more productions, create jobs, and ensure B.C. remains a preferred location for filmmakers worldwide.
What’s New for Regional Areas
In a particularly exciting development for regions outside Metro Vancouver, the government has restored regional and distant location tax credits for animated productions with a physical presence in communities like the Cowichan Valley. This change acknowledges the growing importance of regional production hubs and the unique contributions they make to B.C.’s film industry.
What This Means for Cowichan
For the Cowichan Valley, these updates present new opportunities:
- Increased Productions: Restored regional tax credits will encourage more film and animation projects to explore Cowichan’s stunning locations, bringing direct economic benefits to local businesses and suppliers.
- Job Creation: With enhanced incentives, productions can support skilled crews and provide valuable job opportunities for residents.
- Showcasing Cowichan: These measures highlight the region’s potential as a premier filming destination, helping it attract productions that want unique backdrops outside Metro Vancouver.
With over 37,000 jobs supported by B.C.’s motion picture industry in 2022, these incentives ensure that regional communities like Cowichan can play a larger role in the sector’s continued growth.
We are thrilled to see these changes and their potential to spotlight our region’s unique charm, bolster economic development, and support local talent. The future of filming in the Cowichan Valley looks brighter than ever.
For more information about filming in the Cowichan, or how your business can get involved, reach out to Film Cowichan Coordinator, Laura Leppard today!
