Film Budget Increased in 2016-17 to Meet Demand
Government has increased support for film projects this year under the Film and Television Production Incentive Fund.
An additional $1.5 million will be provided for projects completed this fiscal year, bringing the total budget for the program to $11.5 million for 2016-17.
"We value our film industry and we want it to be successful and stable," said Mark Furey, Minister of Business. "We've been working closely with Screen Nova Scotia to monitor activity and requirements under the fund and we're pleased to see more productions applying. This will benefit the economy with more jobs and increased spending in Nova Scotia."
Government and industry have been monitoring all approved, pending, and anticipated applications, as well as the year each production is expected to be completed and paid out, to forecast capacity in the fund.
The Nova Scotia Film and Television Production Incentive Fund, introduced in July 2015, provides between 25-32 per cent of eligible costs such as labour and goods and services purchased from a Nova Scotia-based supplier.
To date, Nova Scotia Business Inc., the program administrator, has announced 17 productions representing $4.9 million in funding commitments. Those approved productions, which span several fiscal years, can be found at www.nsbi.ca/filmfunding .
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The budget for the Film and Television Production Incentive Fund will increase by $1.5 million in 2016-17. This will accommodate projects expected to be completed by the end of this fiscal year.
Government and Screen Nova Scotia have been working closely to monitor approved, pending and anticipated applications.
It is forecasted that $11.5 million will be needed under the fund for 2016-17.
Business Minister Mark Furey says government values the film industry and wants it to succeed. He says new productions under the fund mean more work for Nova Scotians and a positive impact on the economy.